Low oil prices have cut 37% off Ukraine’s oil import bill through October

Low oil prices have cut 37% off Ukraine’s oil import bill through October, compared to the first 10 months of last year, reported the State Customs Service. Ukraine paid $2.8 billion for oil imports. The top three sources were: Russia – 36%; Belarus – 35%; and Lithuania -12%. Reflecting the current corona recession, the volume of oil imports is down by 7% this year, to 6.5 million tons. Since June, Brent oil has priced around $40 a barrel, down from the low $60 range in last year.