Russia’s Oil Revenue Sinks as Urals Falls to $59
Russia collected 326.2 billion rubles, or about $3.76 billion, in net oil revenue in August, down 22% from a year earlier and the lowest monthly total since February. Russia’s tax authority calculated August oil revenues using a crude price of just over $59 per barrel. Urals, Russia’s main export gr
Source: OilPrice.com
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DW NOTE
Urals at $59 while Brent trades at $95.57 is a $36 discount — the widest spread since the EU embargo took hold in 2023. Russia is selling crude at half the global benchmark while funding a war that has killed over a million since 2022. The discount is the sanction; the volume is the workaround.