Russian crude oil exports up 50 percent

Russia’s crude oil supply rose 50 percent in the spring despite sanctions imposed by G7 countries against Russia over the war in Ukraine.

The Financial Times (FT) story was based on data from the analysis company Kper.

The European Union (EU), the G7 countries and Australia implemented the practice of price caps on December 5, which prevents Russian oil from being sold at a price of $60 per barrel, in order to reduce Russia’s financing. for the war in Ukraine.

However, according to the FT report, which includes forecasts from the Kiev School of Economics (KSE), Russian oil revenues may increase due to the continued rise in crude oil prices and Russia’s reduction of the discount it applies to its own oil.

THREE-QUARTERS OF THE WEST MOVE WITHOUT INSURANCE

Nearly three-quarters of Russian crude oil transported by sea was shipped without Western insurance in August, the Financial Times reported in its analysis of shipping and insurance records. moved Was seen.

Russia, maritime diesel and diesel It reduced its exports by almost 30 percent in the first 20 days of September compared to the same period in August, to about 1.7 million tons.

Russia’s decision to temporarily ban diesel and diesel exports to many countries, announced last week, is also expected to lead to a further supply squeeze. (REUTERS)