Putin's IBS<p>For the first time in 21 months, the price of <a href="https://mastodon.online/tags/Russian_Urals" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Russian_Urals</span></a> oil falls to $50 per barrel. The <a href="https://mastodon.online/tags/Kremlin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Kremlin</span></a> is nervous — <a href="https://mastodon.online/tags/Bloomberg" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bloomberg</span></a></p><p>🛢 The price of <a href="https://mastodon.online/tags/Russian_Urals" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Russian_Urals</span></a> crude oil fell to $52.76 per barrel, <a href="https://mastodon.online/tags/Bloomberg" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bloomberg</span></a> reports. The last time it fell below $50 was in June 2023.</p><p>Crude oil prices are crucial for <a href="https://mastodon.online/tags/Russia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Russia</span></a>'s federal budget, which relies on oil and gas for almost 30% of its revenue.</p><p>🛢 Let us recall that the <a href="https://mastodon.online/tags/Russian" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Russian</span></a> budget is based on $70 per barrel.</p>