Ukraine Latest: Russia’s Oil Exports Show No Sign of Output Cut
Ukrainian servicemen during a military exercise in the Kharkiv region on May 1.
Photographer: Dimitar Dilkoff/AFP/Getty Images
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Russia’s oil exports jumped above 4 million barrels a day last week, offering no sign that Moscow has delivered on its threat to cut output, according to tanker-tracking data compiled by Bloomberg.
President Vladimir Putin’s government is likely to resume purchases of foreign currency for its reserves as soon as this month as rising oil earnings stabilize public finances despite US and European efforts to squeeze Kremlin income.