Steep Decline In Price Of Russian Urals Oil Will Push Russia's Budget Deeper Into The Red

On January 16, 2023, Russia's Ministry of Finance reported that the average cost per barrel of Urals oil from December 15, 2022 to January 14, 2023 was $46.82 – a fall to a two-year low due to discounts and the strengthening of the ruble. The ministry said that these factors can largely influence the formation of the Russian budget. At this time, the cost of oil in rubles is

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