- Category
- World
Russia’s Oil Revenue Hits Highest Weekly Level Since 2022 as Diesel Exports Return
Prefer U24 Media on Google
- Authors
![Photo of Vlad Litnarovych]( "Photo of Vlad Litnarovych")
The value of Russia’s seaborne crude exports surged to $2.76 billion in the latest week, marking the highest level recorded since Russia launched its full-scale war against Ukraine, Bloomberg reported on October 27.
During the week ending October 25, the estimated value of Russian crude shipped by sea jumped by roughly $430 million to $2.76 billion.
We bring you stories from the ground. Your support keeps our team in the field.
The increase came despite falling prices for Russia’s flagship Urals crude. The decline was more than offset by a sharp rise in export volumes and continued gains in the price of ESPO crude, which has now risen for eight consecutive weeks.
Ship-tracking data and industry reports showed that about 37 tankers loaded 26.93 million barrels of Russian crude during the week ending October 25.
That was a substantial increase from the previous week, when 31 tankers loaded approximately 21.87 million barrels.
China and India remain by far the largest buyers of Russian crude, maintaining a wide lead over other importers.
However, the final destination of many Russian oil cargoes is often unclear when tankers first leave port. Some vessels list intermediate destinations such as Suez, Port Sudan, or Singapore and only reveal their ultimate destination after traveling much of the route.
The surge comes as Russian diesel exports are also beginning to return to major international markets following a temporary easing of US sanctions and the lifting of a Russian export restriction.
US President Donald Trump recently said he had spoken with Russian leader Vladimir Putin and reached an agreement covering Russian diesel supplies to the US and global markets.
Under the arrangement described by Trump, Russia is expected to immediately supply more than 300,000 tons of diesel to American and international markets, followed by another 500,000 tons during November and an additional 1 million tons later.
Shipping data from Kpler and LSEG also indicate that Russian diesel cargoes are already moving back toward traditional destinations. At least two tankers have recently signaled routes toward Türkiye and Brazil.
The renewed diesel flows add another layer to Russia’s energy exports at a time when its seaborne crude business is already generating record wartime revenue.
Previously, US President Donald Trump blocked the implementation of sweeping sanctions and tariffs against Russia and buyers of Russian energy under a law championed by the late Senator Lindsey Graham, just weeks after signing the legislation himself.
Discuss this article:
-9a7b3a98ed5c506e0b77a6663f5727c5.png)
-72b63a4e0c8c475ad81fe3eed3f63729.jpeg "Photo of Cyril Barabaltchouk")
