The EU ban on Russian oil and the $60 per barrel price cap is costing the Kremlin over $170 million a day, think tank says
The European Union ban on Russian oil and the west's $60-per-barrel price cap is costing the Kremlin over $170 million a day, according to the Centre for Research on Energy and Clean Air.
in the last week of 2022, Bloomberg reported, with just China, India, and Turkey being among the few buyers left. CREA estimates that headwinds related to energy sanctions are costing Russia €160 million, or $170 million a day, the organization said in apublished on Wednesday. It added that losses could even rise to €280 million, or $300 million a day by February 5, when the EU is expected to ban Russian petroleum products.
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