Russia's Oil Export Revenues Drop in October Due to Sanctions and Lower Prices
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Russian oil export revenues dropped 2.5% from September to October, partly due to Western sanctions and lower global oil prices.
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Russia received $18.34 billion from oil exports in October, down from $18.8 billion in September.
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Oil price cap and sanctions have raised costs for Russia's oil exports, reducing profit margins.
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Freight costs for shipping Russian oil have risen almost 35% in October due to sanctions.
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Russia's oil revenues still increased overall from January to October 2022 despite price cap.