Russia’s central bank has communicated that the depreciation of the ruble does not pose any risks to the nation’s financial stability. In related developments, Russian crude oil prices surpassed the cap instituted by the G7. According to a recent report by the IEA, revenue from oil exports reached an eight-month pinnacle. The report highlighted that the average price for Russian seaborne crude exports last month escalated to USD 64.41 per barrel, significantly exceeding the USD 60 cap established the previous year.