Russian Urals, crude oil prices in June averaged $55.28 a barrel, down from $87.25 a year earlier, and below Western price caps, the finance ministry said on Monday.

The European Union, G7 countries and Australia introduced a price cap of $60 a barrel on Russian oil from Dec. 5, aiming to curb Russia’s ability to finance the conflict in Ukraine.

The average Urals price for the first sixmonths of the year was $52.17 a barrel, the ministry said, down from $84.09 in the same period a year earlier.
Source: Reuters (Reporting by Daria Korsunskaya; editing by Kevin Liffey and Jason Neely)