Politics

EU sanctions have ‘limited’ effect of Russian oil production


Russian oil production has fallen by less than 3 percent since the invasion of Ukraine, with western energy sanctions having only a “limited” effect, the International Energy Agency has found, as flows are rerouted to India and China. In its latest monthly report, the agency said Russia’s oil production in July was 310,000 barrels a day below prewar levels, while total oil exports were down by 580,000 barrels a day.

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