The G7 and EU have imposed a $60 per barrel price ceiling mechanism in an effort to curtail Moscow’s energy revenues The average price of Russia’s flagship Urals blend of crude oil was $81.52 a barrel in October, the Ministry of Finance reported on Wednesday, 35% above the $60 price cap imposed by G7 and the EU in December. The discount to the Brent benchmark last month stood at $9.57 per barrel. Data shows that in annual terms, the average cost of Urals has increased by 15%. In October 2022, a barrel of Russian oil traded at $70.62. However, in monthly terms the cost of Urals decreased by nearly 2%. In September
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