fromBusiness Insider
1 week agoRussia is still exporting plenty of oil - but earning far less to fund its war on Ukraine
In late October, the US Treasury announced sanctions on Lukoil and Rosneft, Russia's biggest oil producers. The changes sent seaborne shipments from these companies down 42%, to about 1.7 million barrels a day. However, Russia's total oil exports slipped by just 100,000 barrels per day after the sanctions came into effect. This means that Russia rapidly rerouted shipments through smaller, non-sanctioned producers.
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