The EU ban on Russian oil and the $60 per barrel price cap is costing the Kremlin over $170 million a day, think tank says

Jan 11 2023 by Business Insider

 
Russian President Vladimir Putin attends a cabinet meeting via videoconference in Moscow, Russia, Wednesday, Aug. 31, 2022.

Gavriil Grigorov/AP

Russia is losing $170 million a day after the latest round of western energy sanctions, according to one think tank. The hit is the result of the EU ban on seaborne oil imports and the $60 per barrel price cap.  Losses could mount to $300 million a day in February, when the EU bans more Russian petroleum products. 

The European Union ban on Russian...

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