Synopsis:

Russia’s oil exports plunge as Trump sanctions hit Rosneft, Lukoil. India and China slash December orders, oil prices fluctuate, Moscow’s energy revenue faces sharp declines.

Russia’s crude oil now trades at its steepest discount in a year, marking a fresh blow to Moscow’s energy revenues. New sanctions by President Donald Trump on Rosneft and Lukoil have sharply hit demand from India and China, once Russia’s two most dependable oil buyers.

Both nations have slashed orders for December, widening the price gap between Russian Urals and Brent crude in Asia to four dollars per barrel, the widest in twelve months. For Moscow, the timing could not be worse, as every lost buyer weakens its fiscal lifeline. On the other hand, oil prices on global markets briefly spiked before stabi

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