Russia's war revenue fell by $15 million in the last week of the year as crude exports plunged to lowest levels of 2022
, despite Russia's vow to halt business with any country that supports the mechanism.
In recent days, benchmark oil prices have slipped below $80 per barrel amid fears that an explosion of COVID infections in China will weaken demand. slashing 700,000 barrels a dayIn addition, Russian oil production is expected to fall by at least 1 million barrels a day due to the EU ban alone, UBS has said, which could
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