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Russian Oil Prices Plummet, Impacting Kremlin's Economy

July 7, 2026Javier Morales1 мин

The conflict in the Middle East has presented challenges for many, leading to a substantial surge in fuel prices that has had ripple effects across various sectors. However, not everyone lamented the rising fuel costs. Russia, for instance, benefited from increased revenue from its oil exports, which, among other things, bolstered its capacity for warfare and acts of aggression against Ukraine.

However, recent reports from Reuters and other media outlets indicate that this favorable period has ended. Russian oil prices have fallen by more than half compared to their mid-April levels, thereby intensifying the pressure on the Russian economy once again.