UBS Data Shows Russian Oil Exports Only 10% Below Pre-War Levels

President Trump's US-Russia deal to export diesel and crude cargoes has drawn considerable scrutiny from Western elites as the first shipments could soon reach US shores. Ukrainian drone strikes on Russian refineries, combined with disruptions in the Strait of Hormuz, have intensified pressure on the global energy market and refining capacity ahead of the US midterms. UBS chief economist Arend Kapteyn published new data tracking Russian oil exports. Before reading the note, the assumption would have been that Western sanctions and Ukraine's efforts…