🚨 Urgent:
Russian Urals crude oil has dropped below $40 per barrel for the first time in five years ⛽📉.
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In December, the average price reached $39.18, a 13% drop from November, and a sharp 41% decline since the start of the year 📊⬇️.
The main reason for this collapse is new U.S. sanctions targeting major Russian oil companies, Rosneft and Lukoil 🇺🇸⚠️. These sanctions have forced Russia to offer significant discounts on Urals crude compared to Brent crude, reaching $26–28 per barrel in Black Sea and Baltic markets 🌊.
As a result, the average price of Russian oil has dropped to around $31 per barrel, the lowest level since May 2020, when the pandemic caused a global market crash 🌐💥.
This means Russian oil prices are now about $20 below the level assumed in Russia's 2026 budget, returning to levels seen at the beginning of Putin's first presidential term ⏪.
The situation is placing significant pressure on the Russian economy, government revenues, and its ability to fund domestic programs, while global markets watch closely how Moscow will respond to this sudden collapse in oil earnings 👀💣.