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Trump's Trade Policies Hit Russia: Oil Prices Plummet

4/8/2025

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Summary

Story summary

U.S. President Donald Trump's trade policies have inadvertently struck a blow to the Russian economy, sending oil prices tumbling. Brent crude now sits at $63, while Urals oil plummets to nearly $50 per barrel, jeopardizing Russia's financial stability. With Putin's heavy dependence on oil revenue and a lack of diversification, the crisis worsens, casting a shadow over peace efforts in Ukraine.

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Story summary

U.S. President Donald Trump's trade policies have inadvertently struck a blow to the Russian economy, sending oil prices tumbling. Brent crude now sits at $63, while Urals oil plummets to nearly $50 per barrel, jeopardizing Russia's financial stability. With Putin's heavy dependence on oil revenue and a lack of diversification, the crisis worsens, casting a shadow over peace efforts in Ukraine.