Russia’s Crude Oil Export Revenues Hit Two-Year Low as Prices Dip

The EU and UK want to reduce the price Russia receives for its oil sold legally by sea

After falling prices for Russian oil, revenues from its exports fell to a two-year low.

Russia’s Crude Oil Export Revenues Hit Two-Year Low as Prices Dip

The value of Russian crude oil exports have sunk in May to the lowest level in over two years, data on shipments and Russian crude prices compiled by Bloomberg showed on Wednesday. The volume of Russian crude oil exports in the four weeks to May 25 barely changed from the previous four weeks to May 18, but the value of the shipments dropped to the lowest level since April 2023, according to the data reported by Bloomberg’s Julian Lee. In the fou…

The latest rounds of sanctions on Russia’s oil trade have massively reduced the departures of Russian tankers, and Moscow’s oil shipments are increasingly having trouble reaching their final destinations, according to data from the Brookings Institution. Western sanctions have become increasingly effective, according to […] The article Russian crude oil transport from the Baltic and Black Seas has collapsed under sanctions – Specialist: “Russia …

Falling Russian Oil Prices Drive Exports’ Value to Two-Year Low

The value of Russia’s crude shipments hit a two-year low in the four weeks to May 25 even as Moscow shrugged off a threat that the G-7 group of nations may tighten the price cap on the country’s exports.

Oil prices are key to the Russian economy. They are currently not performing well, and the Kremlin's money to finance the war may run out before the end of the year.