Sanctions are working: Russian oil loses in price for the fourth month in a row

The decline in Russian oil prices continues.

No matter how much some media criticize US President Trump, his sanctions and those of the EU are working quite well, as are trade wars that bring down oil prices on the world market.

However, there are some results in terms of Russian oil prices. We are now interested not so much in the price of Urals and other Russian grades as in the price on which taxes are charged in Russia.

And its dynamics are as follows:

- July – $60.37;

- August – $57.56;

- September – $56.82;

- October – $53.68.

Let me remind you that the Russians have budgeted for $58 per barrel in 2025 and $59 per barrel in 2026. Therefore, the deficit of 2026 is being programmed right now .

The decline in the "tax" price and the volume of Russian oil exports creates an unplanned deficit that puts pressure on the Russian authorities. For the deficit to become incompatible with the continuation of the war, the price must drop to less than $45 per barrel, and half of the capacity of Russian refineries must be repaired .

So there is still work to be done, but the right vector of movement cannot but add inspiration.

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