The price of Russian Ural oil decreased by 45 percent in a year

The Russian Ural oil price was reported to have decreased by 45 percent in the January-March period compared to the same period last year and traded at $48.92 per barrel.

In the statement issued by the Russian Ministry of Finance, it was indicated that the average price of Ural oil per barrel in the January-March period was $48.92.

DECREASED 45 PERCENT IN 1 YEAR

Notably, the price of a barrel of Ural oil, which traded at an average of $88.95 in the same period last year, decreased by about 45 percent in one year.

Many countries that continue to buy Russian oil, especially China and India, are demanding discounts from Russia, pointing to potential sanctions risks.

The countries of the European Union also agreed in December 2022 to apply a maximum price of $60 per barrel to oil transported by sea from Russia. (AA)