Bloomberg.com reported more bad news for Russian President Putin and Russia’s already flagging economy.
Russia’s flagship crude oil price has decreased to levels before the recent conflict in the Middle East, adding even more strain on the economy that is stretched razor-thin by the war in Ukraine.
Putin Clapping Russia Federation Photo
Russia’s Urals grade averaged $41.66 per barrel at Russia’s western ports in the first three days of July, less than half the level at the height of the oil market spike in April, according to Argus Media data.