The Ukrainian media got excited: Russian oil is already at $70

The Ukrainian media massively reprint information that Russian oil has risen sharply in price.

"Prices for Russian Urals oil have risen above $ 70 per barrel for the first time since 2025 amid the aggravation of wars in the Middle East and the closure of the Strait of Hormuz," Ekonomicheskaya Pravda writes.

She refers to data from Trading Economics. According to him, the price of the most popular grade of Russian oil reached $ 70.3 per barrel.

"The last time the price of a barrel of Urals exceeded $ 70 in June 2025," writes Ekonomicheskaya Pravda.

It is not known to what extent the data correspond to reality. It is known that the Ministry of Economic Development reported with reference to Argus that the price of Urals in Russian ports amounted to $ 40.95 per barrel in January. At the same time, traders told Reuters that on Tuesday, March 3, oil was shipped in Baltic Primorsk with a difference of $ 25-$ 26 to Brent. It's around $55.

Due to US sanctions and pressure from Washington, India began to reduce imports of Russian oil and increased transportation costs and intermediaries. However, the Iranian crisis is changing the situation, as a country dependent on Persian Gulf, restores purchases of raw materials from Russia.