Seaborne oil flows from Russia rose to the highest level since April last year

The seaborne crude exports from RF rapidly increased last week. It has become the highest since April. This growth shows that by this moment, the country has recovered from the initial blow inflicted on flows by European sanctions.

A week before January 13, the total volume of oil from RF grew by 30% to 3.8 million. This is 876,000 barrels per day. The number of shipments on the Baltic Sea grew by 626,000 barrels per day compared to the week before. The shipments on the Black Sea and from Pacific ports also increased.

The EU sanctions imposed on the import of RF crude have increased the delivery time of shipments. The country becomes more dependent on its vessels and so-called “shadow fleet”. This refers to the older vessels belonging to small unknown firms that have appeared recently.