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Russian Exports Defying Sanctions

OIL

Russia has largely defied individual and government sanctions, continuing to export oil at high levels based on Vortexa data.

  • Seaborne crude exports towards Europe, via Arctic, Baltic and Black Sea ports, are up by 500kbd q-o-q in Q2 2022, also outpacing the levels observed in late 2019 or early 2020.
  • Russia has struggled to place exports in non-essential products such as fuel oil or naphtha, forcing domestic refinery run-cuts, and freeing up crude for exports.


Source: Vortexa

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