The discount on Urals versus North Sea benchmark Brent widened to $23.51 per barrel, the largest since March 2023.
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Russian Oil Prices Sink as India and China Cut Purchases Ahead of U.S. Sanctions Deadline
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Russia’s economic slowdown bites harder
Hello! Welcome to your weekly guide to the Russian economy, written by Alexandra Prokopenko and Alexander Kolyandr and brought to you by The Bell. This week, we analyze how Russia’s economic slowdown is hitting harder, with worse still on the horizon, and look at Russia selling off its gold reserves. The slowdown accelerates Russia’s economy continues to cool. In Q3, GDP growth dipped to 0.6% and in Q4 could drop into negative territory. Even defense manufacturing failed to grow, probably because it is at the limit of its physical capacity. In 2026, the economy could move into long-term stagnation.…