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Report: EU Sanctions On Crude, Products Could Cost Russia $300 Million Per Day

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Once new European Union restrictions on Russian oil products come into force on February 5, Russia could face losses of around $300 million per day, a new report from a Finnish research center predicts.  The report, by the independent Helsinki-based Centre for Research on Energy and Clean Air (CREA) noted on Wednesday that the existing EU ban on crude oil imports from Russia, combined with the oil price cap, are costing the Kremlin’s coffers around $172 million per day.  CREA notes that Russia’s fossil fuel export earnings…

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