Russian oil price drops below USD 34 per barrel - Bloomberg

The price of russian export grade Urals oil has fallen to USD 34 per barrel, indicating the impact of US sanctions imposed on the aggressor country of russia.

Bloomberg reported this on Monday, December 22.

According to Bloomberg, according to data from the independent price agency Argus Media, last Friday, December 19, in ports on the Baltic Sea the price of Urals oil was USD 34.8 per barrel. At the same time, in the Black Sea ports of the russian federation the price of a barrel of Urals oil fell to USD 33.17 per barrel.

At the same time, the Brent oil grade, which is the benchmark for international prices, has shown a decrease. The cost of a barrel was about USD 61.

Urals is not the only grade that russia trades, but it is the main one. The price is falling both due to the decline in world prices and the continued expansion of discounts.

It is becoming increasingly difficult for the Kremlin to find buyers for the offered volumes of "black gold", so it is forced to offer much higher discounts.

As Ukrainian News Agency earlier reported, on December 16, Bloomberg wrote that the cost of russian oil has reached its lowest value since the beginning of the russian federation's full-scale invasion of Ukraine.

As a reminder, on December 9, it became known that the russian budget deficit has increased 12 times since the beginning of the year. In eleven months, the "hole" has grown to RUB 4.3 trillion.

We also wrote that in November, the russian federation received 34% less revenue from the sale of raw materials, including oil and natural gas.