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Russia's Flagship Oil Urals Tumbles Toward $50 in Global Rout

Russia's Flagship Oil Urals Tumbles Toward $50 in Global Rout

Bloomberg07-04-2025

A plunge in global oil prices has driven down the price of Russia's flagship grade Urals toward $50 a barrel, raising pressure on the state budget as the Kremlin ramps up defense spending for its war on Ukraine.
The country's Urals grade from the Baltic Sea port of Primorsk slumped to $52.76 on Friday, data from Argus Media show. The country's barrels have traded at deep discount to the global benchmark Dated Brent ever since the invasion began, more than three years ago.

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Key to Russia's potential defeat lies in its economy
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