Russia’s Oil Export Earnings Set To Decline On Heavily Discounted Urals

While Moscow said earlier this week it was anticipating a more than $6-billion boost in oil revenues in June, despite sanctions, a new report from Bloomberg shows that while Russian seaborne crude oil shipments have increased, Moscow is earning far less on exports.  In the seven days to June 3rd, Russian crude oil shipments by sea hit their highest rate in six weeks, according to Bloomberg. However, those cargoes are being sold to Asian buyers at heavy discounts.  Russia is still raking in oil revenues, but it’s selling more, for…