Russian Oil Export Revenues Tank for Third Consecutive Month
The International Energy Agency (IEA) said Thursday that Russia’s oil export revenues dropped in November to their lowest monthly level since Moscow launched its full-scale invasion of Ukraine.
November is at least the third consecutive month for which this was the case, with Russia’s oil export revenues apparently following a downward trend.
JOIN US ON TELEGRAM
Follow our coverage of the war on the @Kyivpost_official.
As per Euractiv, Russia’s total revenue in November was $11 billion – $3.6 billion below last year’s figure.
Russian oil exports have been hit hard in recent months, both by Ukrainian strikes on Russian oil refineries and international sanctions.
As per Ukrinform, the IEA report showed that Ukrainian attacks on Russia’s “shadow fleet” and offshore oil facilities led to a reduction of almost half of Russian oil exports through the Black Sea in November.
Also on Thursday, the Armed Forces of Ukraine (AFU) struck targets across western and central Russia, igniting fires at five Russian energy production facilities.
According to the Saratoga Foundation, a US-based thinktank, Ukraine’s naval drones are threatening Russia’s oil export routes.
Saratoga Foundation President Glen Howard told Kyiv Post on Sunday that Ukraine’s attacks on Russia’s shadow fleet are forcing Moscow to either “sit back and watch Ukraine attack its shadow fleet network, or come out of its protective harbors and provide an escort for the tankers – thereby putting the warships at risk.”
Other Topics of Interest
NBU Keeps Key Rate Unchanged Despite Drop in Inflation
Ukraine’s central bank left the key rate at 15.5%, basing its decision on uncertainty over future foreign financing despite lower inflation figures. But Q3 real GDP reveals a glimmer of hope.
In late October, US President Donald Trump imposed the first major sanctions on Russia of his second presidential term – targeting Rosneft and Lukoil, two Russian oil giants.
Lukoil was subsequently forced to put its foreign assets up for sale. Meanwhile, Bulgaria’s parliament seized control of the Burgas oil refinery – owned by Lukoil, and the country’s only – to ensure its operations continued smoothly.
First Appeared on
Source link
