OIL, NATURAL GAS EXPORTS WILL BOOST REVENUE IN JUNE BY 393B RUBLES, RUSSIA SAYS

Fri 03 June 2022:

Russia announced on Friday that oil and natural gas exports will bring in an additional 393 billion rubles (almost $6.3 billion) in June.

In May and June, the government would earn a total of 656.6 billion rubles (roughly $10.7 billion) from oil and gas exports, according to the Finance Ministry.

Due to the temporary suspension of budget regulations, the ministry also stated that it will not participate in the foreign exchange market this year.

Earlier on Friday, the European Union officially adopted its sixth sanctions package against Moscow.

The package, EU foreign policy chief Josep Borrell said, is aimed at “increasing limitations to the Kremlin’s ability to finance the war by imposing further economic sanctions.”

The latest restrictions include a ban on Russian oil imports, as well as a six-month deadline for EU member states to phase out crude oil and an eight-month deadline for other refined petroleum products.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

___________________________________________________________________________________________________________________________________________

FOLLOW INDEPENDENT PRESS:

TWITTER (CLICK HERE)
https://twitter.com/IpIndependent