By Kyiv School of Economics Russia’s oil export revenues remain high as energy sanctions fail to offset rising global prices. Improved external dynamics are helping to stabilise the ruble and support the budget. Although there is a risk that Russia will face economic vulnerabilities in the future due to reduced macroeconomic buffers, more action is needed now to stop Russia’s brutal war in Ukraine, according to the May edition of the KSE Institute’s chart book. Higher oil prices have supported Russia’s export earnings, with oil revenues reaching $17.2bn in April. Global oil prices continued to…