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Bulgaria Remains A Major Buyer Of Russian Oil

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Russia has been hit by waves of Western sanctions for its unprovoked invasion of Ukraine, including its energy sector, a major source of revenue for the Kremlin. On December 5, 2022, Russia's ability to sell crude oil got harder when it was blocked from transporting its black gold by ship to the EU. Moreover, that same day, an EU cap on the price of Russian oil exports of $60 per barrel took effect. Data suggests the latest measures are having an impact. Russian oil exports have fallen to a two-year low, and the price of Russian crude has slipped…

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