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Russian Oil Exports Hold Up Despite Impending EU Ban
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Over 1 million barrels of Russian oil exports a day are set to be obstructed by Western sanctions that are expected to come into force within weeks, the International Energy Agency said Tuesday, and Moscow will struggle to redirect shipments elsewhere threatening to further tighten global energy markets.
In a monthly report Tuesday, the Paris-based agency said Russian crude oil exports, including to the European Union were largely unchanged last month, despite the prospect of an imminent EU ban on Russian oil imports and a separate plan to cap prices for Russian crude oil sales.
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