Russian oil prices fall to lowest level since the start of full-scale war
Prices for the main grades of Russian oil have fallen to their lowest levels since the start of full-scale aggression against Ukraine in 2022. Bloomberg reports this with reference to data from traders and market analysts. It is reported by The Public with reference to Bloomberg.
Urals, which is the key grade for Russian exports, is sold at a significant discount to benchmark Brent. According to market estimates, the discount has reached more than $20 per barrel. This was the result of tougher sanctions, shipping restrictions and pressure on the so-called shadow tanker fleet.
An additional factor in the price drop was the increase in insurance and freight costs, as well as the risks of delivery delays. Some cargoes are forced to stay at sea for months, which reduces the liquidity of exports and forces sellers to accept even deeper discounts.
Analysts note that current prices are already approaching levels that pose serious problems for the Russian budget. According to international estimates, Russia's oil and gas revenues remain a key source of funding for the war, but their effectiveness is gradually declining.
Experts also point out that further tightening of sanctions against the energy sector and traders could further hit Moscow's export opportunities in 2026.
