Russian export growth slowed to 23% on a year earlier in June from 28% in May. The slowdown was driven by U.S. exports, which were unchanged after having increased at a double digit rate since October. That came before the new sanctions bill was approved by President Donald Trump on August 2. Russia remains exposed to U.S. policy – steel exports are 8% of its exports, and it accounts for 8% of U.S. steel imports ahead of the latter’s “section 232” policy review of the industry. Oil prices remain the biggest driver though. Crude oil, refined products and natural gas account for 55% of the...