The price for mixed Russian Urals oil in the first half of the year exceeded the price limit set by the West, Reuters notes.
Russia’s oil and gas revenues rose about 41% year-on-year in the first half of the year to $65.12 billion due to rising oil prices and a weaker ruble. This was reported by Reuters news agency.
The sale of energy resources brought from a third to a half of the total income to the Russian budget in the last decade.
The war in Ukraine has prompted the West to impose a raft of sanctions aimed at curbing Russia’s vital oil and gas revenues.
However, in the first half of the year, the price of Russia’s flagship Urals crude oil averaged $69.1 a barrel, above the Western price limit of $60, compared to $52.5 in the same period in 2023.
As we already wrote, in May Russia surpassed the United States for the first time in almost two years and became the largest gas supplier in Europe. Russian gas last month accounted for 15% of total supplies to the EU, the UK, Switzerland, Serbia, Bosnia and Herzegovina and North Macedonia.
Source: korrespondent
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