Russia’s refined fuel shipments hit 11-month high despite new US sanctions
Date
1/19/2025 8:17:42 AM
(MENAFN) Russia's refined fuel exports have reached their highest level in almost a year, despite the US imposing new sanctions on the country’s energy sector last week, Bloomberg reported on Thursday.
According to data from analytics firm Vortexa, seaborne shipments of Russian petroleum products averaged 2.5 million barrels per day (bpd) in the first ten days of January, marking an 11-month high. This figure represents a 12 percent increase compared to December’s daily average and is the highest level since February 2024.
The US imposed a fresh round of sanctions on Russia in coordination with the UK, targeting major Russian oil companies, including Gazprom Neft and Surgutneftegas. The sanctions also targeted dozens of vessels allegedly used to transport Russian oil in violation of Western restrictions, which the US has labeled a "shadow fleet."
In response, Moscow has condemned the sanctions, calling them "illegal," with Kremlin spokesman Dmitry Peskov warning that such measures could destabilize global energy markets. Despite the sanctions, Russia's refined fuel exports have continued to rise, demonstrating the country’s resilience in the face of economic pressure.
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