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Russia’s oil revenue sinks as sanctions bite: IEA

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PARIS: Russia’s oil export revenue sank 42 percent in February as Western powers tightened sanctions on the country in the wake of the Ukraine war, the International Energy Agency said on Wednesday.

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The country earned $11.6 billion from its oil exports last month after the European Union imposed a ban on Russian petroleum products alongside a price cap agreed with the Group of Seven and Australia.