Latest Developments in Ukraine: Feb. 4

For full coverage of the crisis in Ukraine, visit Flashpoint Ukraine. The latest developments in Russia’s war on Ukraine. All times EST. 12:12 a.m.: Russia's monthly budget revenues from oil and gas fell in January to their lowest level since August 2020 under the impact of Western sanctions on its most lucrative export, Finance Ministry data showed Friday, Reuters reported. Monthly tax and customs revenue from energy sales declined 46% in a year, reflecting the fact that, while the price of the global benchmark Brent blend was little changed, the average monthly price of Russia's Urals blend was down 42%, according to the ministry. Moscow relies on income from oil and gas, last year around $165 billion, to fund its budget spending, and has been forced to start selling international reserves to cover a deficit stretched by the cost of its invasion of Ukraine. Some information in this report came from Reuters.

Full "Voice of America:News" article