Sanctions on Russian Oil Are Crimping Moscow’s Income, IEA Says

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Sanctions on Russian Oil Are Crimping Moscow’s Income, IEA Says
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Russia’s oil export revenues have roughly halved in the past year while oil exports remained largely unchanged, suggesting Western sanctions are taking effect

The Paris-based energy forecaster said that a year on from the start of —and after a barrage of Western sanctions that saw Russia’s biggest buyers in Europe turn their backs on Russian crude—Moscow had largely succeeded in finding new customers but at a sharp cost to its oil export income.

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