Moscow's oil-export revenue in February lowest since Ukraine war

Russia's oil-export revenue shrank in February to the lowest since its invasion of Ukraine after Western sanctions curbed sales and forced deeper price discounts, while Kyiv continued attacks on oil infrastructure, the International Energy Agency said.

The nation earned $9.5 billion from exporting crude oil and petroleum products last month, a $1.5 billion drop from January, the Paris-based agency said in its monthly market report on Thursday.

Total oil exports plunged by 850,000 barrels a day to 6.6 million barrels a day, also the lowest level since the Kremlin's full-scale invasion of Ukraine in early 2022, the IEA estimated.


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The drop in February followed deepening discounts on Russian crude as the US increased pressure on Moscow, making it more difficult for nation's producers to market their barrels.