Russian oil prices have fallen to their lowest level since the start of Russia’s full-scale war against Ukraine amid tighter Western sanctions and a drop in global prices, Bloomberg reports. According to the outlet, mounting sanctions pressure is making it increasingly difficult for Russia to sell and transport its oil. Restrictions are also affecting refineries in key buyer countries, including India, forcing Russian exporters to offer steep discounts. Argus Media estimates that the average price of Russian oil exported from Baltic and Black Sea ports, as well as from the eastern port of Kozmino, is just $37 per barrel.
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