Russia says will earn additional 393B rubles from oil, natural gas exports in June

By Emre Gurkan Abay

MOSCOW (AA) – Russia on Friday said it expects to earn an additional 393 billion rubles (nearly $6.3 billion) in June from oil and natural gas exports.

The country will pocket a total of 656.6 billion rubles (approximately $10.7 billion) through oil and gas exports in May and June, the Finance Ministry said in a statement.

The ministry also reiterated that it will not operate in the foreign exchange market this year due to the temporary suspension of budget rules.

Earlier on Friday, the European Union officially adopted its sixth sanctions package against Moscow.

The package, EU foreign policy chief Josep Borrell said, is aimed at “increasing limitations to the Kremlin’s ability to finance the war by imposing further economic sanctions.”

The latest measures include a ban on Russian oil imports, giving EU member states six months to phase out crude oil and eight months to cut other refined petroleum products.

* Writing and contributions by Aysu Bicer in Ankara