Russian oil tax revenue was down 45 percent from January-August this year, relative to 2022, the statement said.
"Given recent price movements, the coalition is focusing on supporting compliance and enforcement of the policy," it said, adding that when it has evidence of illicit or deceptive practices related to shipments of Russian-origin crude oil, it will "respond in accordance with the respective restrictive measures."
The International Energy Agency (IEA) said on October 12 that preliminary estimates showed Russian crude oil exports last month stood at 4.9 million barrels per day, down about 100,000 bpd from the May-June average.
But it also said Russia's total exports of crude oil and products in September rose by 460,000 bpd to 7.6 million bpd, with crude accounting for 250,000 bpd of the increase.
I am so glad that we can rule world oil prices by edict, with a cap on prices bought and paid, with no time frame for a resolution.
Makes perfect sense to government economists.
More stupidity out of the idiot strategic-planners in DC
All price-cap and price-control schemes are doomed to failure. This one is not even on their own citizens - but Russia, with penalties randomly put on citizens of 3rd party countries. I doubt FJB and his regime will dare to sanction countries and state actors like India and China, who are freely buying Russian crude
Such meddling will never work, and only engender hatred for the US Government, and an increase in anti-US alliances among nations
>> Russian oil tax revenue was down 45 percent from January-August this year, relative to 2022, [a statement from the G7 and Australia said]
I used to believe things like this, taking them at face value. Now I carefully consider the possibility that they are total made-up bullshit.
Order ruzzia to take a $30 haircut per barrel? You and what army? These people really are fools.
This just increases the incentive to find an alternative to the $US as the international currency.
The DC Globohomo Regime just accelerating its own demise.