Russia’s oil proceeds increased almost 50% in May from a year ago, with the nation managing to circumvent sanctions and get a higher price for its crude. According to Bloomberg calculations, the country’s oil-related taxes in May clocked in at 632.5 billion rubles ($7.1 billion) with total oil and gas proceeds increasing 39% to 793.7 billion rubles. Russia got $74.98 per barrel for its Urals last month, up from $58.63 a year ago as the blend’s discount to the global Brent benchmark narrowed considerably despite a $60 per…
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