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  1. EU nations have ended imports of Russian oil brought in by sea, and a ban on refined oil products will come in from 5 February. The United States said last March it would stop importing Russian ...

  2. As a result of the embargo on Russian oil, the volume of Russia’s seaborne crude exports to Price Cap Coalition countries dropped by 91% (59.5 mn tonnes) in the 12 months since the sanctions were implemented. While Russia made up the deficit in volume terms — exports to non price-cap coalition countries rose 67% (65 million tonnes) — they were forced to sell their oil at sharper ...

  3. May 23, 2024 · According to the 2024 federal budget projections, Russian government is nevertheless forecasting 29.8-percent year-over-year growth in oil and gas revenues in 2024, despite not projecting a significant rise in oil prices. The draft budget projects average oil prices for 2024 at $71.30 per barrel.

  4. Apr 4, 2024 · The United States and EU also implemented a series of sanctions on individuals and entities in the Russian energy sector, including the heads of major Russian energy companies. These sanctions included asset freezes and travel bans on sanctioned individuals. Additionally, the United States placed six major companies—Gazprom, Rosneft Oil ...

  5. Feb 23, 2024 · President Vladimir Putin has claimed European sanctions have done Russia no harm, saying: "We have growth, and they have decline.", external Russia has managed to sell oil abroad for more than the ...

  6. May 9, 2024 · Despite Western sanctions meant to curtail energy exports and squeeze its economy, experts say Russia is using its so-called shadow fleet of tankers to make as much as $1 billion a day selling oil ...

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  8. Jan 26, 2023 · European countries have sought to reduce their dependence on Russian gas. An oil price cap approved by Western allies in December also aims to prevent Russia getting more than $60 (£48) for a ...

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