Half of Russia's oil in October was transported by "shadow" tankers not subject to sanctions — analysis by the Center for Research on Energy and Clean Air (CREA).
Russia's export revenue from fossil fuels in October was the second largest in 2023, with a notable increase in sea and pipeline supplies of crude oil.
"Compared to September, Russia's monthly export revenue from fossil fuels in October slightly decreased by €16 million per day (-2%). Income from the export of oil products by sea decreased the most — by €19 million per day (-7%) - primarily due to restrictions on the export of these products.
Seaborne and pipeline oil, on the other hand, increased by seven million euros per day (+3%) and five million euros per day (+4%), respectively," the CREA report says.
China was the largest importer of Russian fossil fuels in October, followed by India, Türkiye, the EU, and Singapore.
Thus, monthly revenue from Russian crude oil exports to China increased by 4%. At the same time, Russia's monthly revenues from seaborne crude oil to India increased by 17% — about 500 million euros.
“In October, 48% of Russian crude oil and oil products were transported by tankers subject to the oil price cap policy. The rest (52%) were shipped by “shadow” tankers, which are not subject to the price cap policy.
Setting the cap for crude oil at $30 per barrel could have slashed Russian revenues by 52% (€7.82 bn) in October alone.
If this cap had been set since the sanctions against Russian oil were imposed in December 2022, Russia’s oil export revenues could have been slashed by nearly half — €59 bn (-49%),” — stated in CREA.
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2023-11-24 23:41:51
Author Public Key
npub1vfylr0gy00evs7a9vphyyy6qg49yv7qjamsypk5u5c0zmfajwgmqv25ctdSeen on
wss://relay.nostr.bandPublished at
2023-11-24 23:41:51Event JSON
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"content": "Half of Russia's oil in October was transported by \"shadow\" tankers not subject to sanctions — analysis by the Center for Research on Energy and Clean Air (CREA).\n\nRussia's export revenue from fossil fuels in October was the second largest in 2023, with a notable increase in sea and pipeline supplies of crude oil.\n\n\"Compared to September, Russia's monthly export revenue from fossil fuels in October slightly decreased by €16 million per day (-2%). Income from the export of oil products by sea decreased the most — by €19 million per day (-7%) - primarily due to restrictions on the export of these products.\n\nSeaborne and pipeline oil, on the other hand, increased by seven million euros per day (+3%) and five million euros per day (+4%), respectively,\" the CREA report says.\n\nChina was the largest importer of Russian fossil fuels in October, followed by India, Türkiye, the EU, and Singapore.\n\nThus, monthly revenue from Russian crude oil exports to China increased by 4%. At the same time, Russia's monthly revenues from seaborne crude oil to India increased by 17% — about 500 million euros.\n\n“In October, 48% of Russian crude oil and oil products were transported by tankers subject to the oil price cap policy. The rest (52%) were shipped by “shadow” tankers, which are not subject to the price cap policy.\n\nSetting the cap for crude oil at $30 per barrel could have slashed Russian revenues by 52% (€7.82 bn) in October alone.\n\nIf this cap had been set since the sanctions against Russian oil were imposed in December 2022, Russia’s oil export revenues could have been slashed by nearly half — €59 bn (-49%),” — stated in CREA.",
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