IEA: Russia’s Oil Revenues Are Dwindling Due To Sanctions ...Middle East

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IEA: Russia’s Oil Revenues Are Dwindling Due To Sanctions
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Russian revenues from oil fell in February as exports declined after the EU embargo on oil product imports from Russia by sea, the International Energy Agency (IEA) said on Wednesday. Last month, Russia’s total oil exports dropped by 500,000 barrels per day (bpd) to 7.5 million bpd as the EU embargo on refined oil products came into effect, the agency said in its Oil Market Report for March. “Revenues are already dwindling,” the IEA noted, adding that Russia’s estimated oil export revenues fell to $11.6 billion in February,…

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