Russia's Oil Exports See Sharpest Drop Since November Following U.S. Sanctions Bloomberg
Date
1/21/2025 3:09:24 PM
(MENAFN- UkrinForm) Last week, Russia's seaborne oil exports experienced their steepest decline since November, following sweeping sanctions imposed by former U.S. President Joe Biden.
That is reported by Bloomberg and cited by Ukrinform.
Data from vessel tracking shows that 26 tankers loaded a total of 19.26 million barrels of Russian crude oil during the week ending January 19.
This volume decreased from 21.06 million barrels carried on 27 tankers in the previous week.
As a result, Russia's daily crude oil export flows over the seven days to January 19 fell by approximately 260,000 barrels, or 9% compared to the prior week, to 2.75 million barrels per day.
The last time a similar level was recorded was in the week ending November 24, when Russia exported 2.78 million barrels of crude oil via sea.
The decline in export flows from Russia's Black Sea, Arctic, and Pacific ports was partially offset by increased shipments from the Baltic port of Primorsk.
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Meanwhile, flows from the smaller Baltic port of Ust-Luga remain reduced following an unexpected drop in late December.
Overall, crude oil shipments from Russia during the first three weeks of 2025 amounted to approximately 340,000 barrels per day, marking a 10% decline from the average daily export levels of the previous year.
As previously reported by Ukrinform, on January 10, the U.S. Department of the Treasury announced a comprehensive package of sanctions targeting Russia's energy sector, including measures against hundreds of shadow fleet tankers and the leadership of Rosatom.
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