Russian oil and gas revenues rose 0.7 % in June compared with May, reaching 683.6 billion rubles ($8.77 billion), and climbed more than 38 % year on year, according to Bluesky. In the same period, Russia’s seaborne oil exports hit their highest level since the start of the full‑scale invasion of Ukraine, while export revenue from those shipments fell to a three‑month low, Meduza reported. Global crude prices experienced a sharp decline after an agreed 60‑day ceasefire between the United States and Iran came into effect, Bluesky added.

Prices for Russian crude shipments from Black Sea and Pacific ports fell to their lowest levels since the full‑scale invasion began in February 2022, The Moscow Times reported. Urals crude sold for an average of $38.28 per barrel in Novorossiysk during the week ending Dec. 7, $2.80 lower than the previous week. In Baltic ports, crude prices dropped $2.40 to $41.16 per barrel, and ESPO crude fell $1.60 over the week to $52.36 per barrel. The average discount on Urals relative to Brent crude reached $25.80 per barrel, more than twice the level before the introduction of new U.S. sanctions on Rosneft and Lukoil, The Moscow Times said.

Refineries in India and China, which together account for about 90 % of Russia’s oil exports, have started rejecting some Russian cargoes, The Moscow Times reported.