New US Sanctions Could Cut Russian Oil Exports by Nearly a Third

The latest round of US sanctions targeting Russia’s energy sector could result in Russian oil companies losing up to 27.5% of their maritime oil exports, The Moscow Times reported on January 14, citing Bloomberg.

According to estimates published on January 13 by Alfa-Bank analysts, up to 800,000 barrels per day of Russian oil exports are threatened by these measures.

The sanctions, imposed on January 10 by the Biden administration, aim to target Russia’s primary source of revenue used to fund its full-scale invasion of Ukraine.

These measures will target oil producers, tankers, traders, ports, and major companies like Surgutneftegaz and Gazprom Neft, as well as over 180 tankers from Moscow’s shadow fleet .

On January 13, reports revealed that at least 65 Russian oil tankers were forced to anchor and halt shipments following the announcement of the toughest US sanctions to date.