RussianOil

Thursday, July 24

Russia’s oil and gas revenues are expected to fall by 37% in July, as the US allows sanctions to be tightened.

Russia’s oil and gas revenues are expected to fall by 37% in July, as the US allows sanctions to be tightened. Due to declining oil prices and a strengthening Russian currency, Moscow’s income from July’s hydrocarbon sales will drop by roughly 37% compared to the same period last year, reaching ₽68...

Tuesday, July 22

Sanctions are in place and taking hold: Russian refineries are idle, and India may stop buying Russian oil.

Sanctions are in place and taking hold: Russian refineries are idle, and India may stop buying Russian oil. According to the Russian Ministry of Energy, oil companies in Russia face delays in repairing refineries due to sanctions. These repairs are slowed by equipment supply chain issues. Meanwhile, Ministe...

Monday, July 21

The EU has approved its 18th Russian sanctions package, one of the toughest packages yet.

The EU has approved its 18th Russian sanctions package, one of the toughest packages yet. EU ambassadors agreed on the 18th package of sanctions in response to Russia’s aggression against Ukraine. EU Foreign Minister Kaja Kallas described this package as “one of the toughest sa...

Tuesday, July 15

The EU has agreed on a price cap for Russian oil as part of its 18th sanctions package.

The EU has agreed on a price cap for Russian oil as part of its 18th sanctions package. EU ambassadors are close to finalizing this package, which will include a lower price limit for Russian oil. Currently, EU countries have agreed on a dynamic mechanism to limit the price of Russian oi...

Thursday, July 10

Estonia threatens to block the new EU sanctions package if it doesn’t include a reduction in the Russian oil price ceiling.

Estonia threatens to block the new EU sanctions package if it doesn’t include a reduction in the Russian oil price ceiling. The country is considering vetoing the 18th EU sanctions package against Russia in order to pressure other member states to lower the maximum price for Russian oil. The Estonian foreign ministry belie...

Tuesday, July 1

Europe has stopped importing Russian oil, but gas remains a challenge.

Europe has stopped importing Russian oil, but gas remains a challenge. Polish oil refinery Orlen will cease buying Russian oil for its Czech refinery after June 30, according to CEO Ireneusz Fafara. “Today we have freed Central Europe from Russian oil,” he st...

Monday, June 23

The US attacked three nuclear facilities in Iran, forcing oil prices to soar to $100 per barrel, but this will not benefit Russia.

The US attacked three nuclear facilities in Iran, forcing oil prices to soar to $100 per barrel, but this will not benefit Russia. US President Donald Trump stated that on the night of June 22, US aircraft targeted three nuclear sites in Iran – in Fordow, Natanz, and Isfahan. He specified that the operation was intended to elimin...

More than 10 European countries will intensify their fight against the Russian shadow fleet.

More than 10 European countries will intensify their fight against the Russian shadow fleet. Representatives from 12 EU countries (the Baltic states, Belgium, Denmark, Germany, the Netherlands, Poland, Finland, France, and Sweden), along with Britain, Norway, and Iceland, called for enhanced ...

Wednesday, June 18

The conflict between Iran and Israel has made it more challenging for the EU to lower the price cap on Russian oil.

The conflict between Iran and Israel has made it more challenging for the EU to lower the price cap on Russian oil. Last week, the European Commission included a proposal in the draft of its Russian sanctions package to lower the price cap on oil from the current $60 per barrel to $45. Some member states that suppo...

The EC has approved a plan to completely abandon Russian gas and oil.

The EC has approved a plan to completely abandon Russian gas and oil. The European Commission has approved a legislative proposal that outlines a gradual phase-out of Russian gas and oil imports into the EU by the end of 2027, with the goal of enhancing the bloc’s...

Tuesday, June 17

The EU will not lower the price ceiling for Russian oil without G7 support.

The EU will not lower the price ceiling for Russian oil without G7 support. The bloc will not independently reduce the price ceiling for Russian oil from $60 to $45 per barrel, as this initiative is unlikely to gain support from the G7 countries. The proposal to lower the pri...

Monday, June 16

The G7 nations are set to reduce the price ceiling for Russian oil to $45 per barrel, without Trump’s approval.

The G7 nations are set to reduce the price ceiling for Russian oil to $45 per barrel, without Trump’s approval. The EU and its G7 allies seek to gain the US’ consent to lower the ceiling price for Russian oil from $60 to $45 per barrel at the summit planned for June 15-17 in Canada, according to EU Special Repr...

Friday, June 13

The G7 summit’s participants will discuss lowering the Russian oil price cap to $30.

The G7 summit’s participants will discuss lowering the Russian oil price cap to $30. Among the topics on the table at the G7 summit, which will take place from June 15 to 17 in Canada, is a proposed price ceiling for Russian oil at $30 per barrel, according to Olexander Khara, an expe...

Thursday, June 12

Sanctions have caused Russian oil and gas companies’ profits to drop by 50% in the past year, with refinery profitability approaching zero.

Sanctions have caused Russian oil and gas companies’ profits to drop by 50% in the past year, with refinery profitability approaching zero. Rosstat reports that in the first quarter of 2025, net profit for these companies fell by nearly half. Within three months, Russian oil and gas firms, which account for 33% of the budget, generated ₽7...

Wednesday, June 11

Kyiv voices its expectations to the G7 regarding Russian sanctions.

Kyiv voices its expectations to the G7 regarding Russian sanctions. Ukrainian Foreign Minister Andriy Sybiha highlighted that Russia has responded to global peace efforts and US proposals with heightened terror and escalation; therefore, strengthening sanctions should...

Tuesday, June 10

During the war, over 20 countries have continued to buy Russian fossil fuels, with China the largest importer.

During the war, over 20 countries have continued to buy Russian fossil fuels, with China the largest importer. As of June 2025, according to CREA, despite sanctions, energy claims, and reputational risks, more than 20 countries still actively import Russian fossil fuels following the onset of the Russian Feder...

Monday, June 2

OPEC+ will once again increase oil production, allowing Western firms to increase shipments of Russian crude.

OPEC+ will once again increase oil production, allowing Western firms to increase shipments of Russian crude. Earlier this year, the Western energy sector began to consider how it might carefully return to Russia if peace is reached in Ukraine. Due to falling oil prices, Greek vessels transported 26% of Russi...

Wednesday, May 28

The EU has proposed lowering the Russian oil price cap by another $15, but the US is blocking the initiative.

The EU has proposed lowering the Russian oil price cap by another $15, but the US is blocking the initiative. The European Commission and leading EU countries support lowering the price ceiling for Russian oil from $60 to $45 per barrel as part of a new sanctions package against Russia. Sources familiar with ...

Monday, May 26

The EU plans to impose sanctions on Nord Stream and lower the Russian oil price cap.

The EU plans to impose sanctions on Nord Stream and lower the Russian oil price cap. The European Commission is already preparing its 18th package of sanctions against Russia, which will disconnect about 20 banks from the SWIFT payment system and impose trade bans exceeding €2.5B in v...

Tuesday, May 20

The EU plans to propose reducing the price cap on Russian oil to the G7 nations as part of its 18th sanctions package.

The EU plans to propose reducing the price cap on Russian oil to the G7 nations as part of its 18th sanctions package. European Commissioner for Economic Affairs Valdis Dombrovskis did not specify the proposed reduction, but may suggest lowering the cap from the current $60 to $50 per barrel. Dombrovskis intends to fo...

Friday, May 16

Hungary and Slovakia have alternatives to Russian oil and gas, but they are increasing their dependency.

Hungary and Slovakia have alternatives to Russian oil and gas, but they are increasing their dependency. Since Russia began its full-scale invasion of Ukraine, Hungary and Slovakia have sent €5.4B to Moscow for crude oil alone, a sum sufficient to fund 1,800 Iskander-M missiles. Despite sanctions exempti...

Wednesday, May 7

Russian oil prices have fallen to a two-year low and are already 40% below the budget target.

Russian oil prices have fallen to a two-year low and are already 40% below the budget target. The Russian economy is showing a decline for the first time since 2022. The price of Russian oil in rubles has dropped below ₽4,000 per barrel for the first time in two years. This is approximately 40...

Tuesday, April 15

Trump will leave Putin unable to fund his war.

Trump will leave Putin unable to fund his war. The decline in oil prices, triggered by US President Donald Trump’s trade war, has started to deplete the Russian military budget, despite the US president’s simultaneous efforts to improve relations ...

Friday, April 11

The US has come up with a way to combat the Russian shadow fleet while also addressing its national debt through a single solution.

The US has come up with a way to combat the Russian shadow fleet while also addressing its national debt through a single solution. A new bill has been introduced in the US aimed at tackling Russia’s shadow fleet of tankers that that are employed to transport oil, circumventing Western sanctions related to the war in Ukraine...

Thursday, April 10

Trump’s tariffs could severely impact Russia’s oil revenue.

Trump’s tariffs could severely impact Russia’s oil revenue. While Moscow has managed to evade US President Trump’s tariffs, the Russian budget will still endure consequences from Washington’s trade war. The Telegraph reports that a threat to Russia has emerged...

Wednesday, April 9

Czechia spent €8.2B on Russian oil and gas last year despite the availability of alternatives.

Czechia spent €8.2B on Russian oil and gas last year despite the availability of alternatives. According to the CSD, the Czech Republic’s expenditure of over €8.2B on Russian hydrocarbons in the previous year is 500% greater than the aid it has provided to Ukraine since the onset of the full-sc...

Friday, April 4

OPEC+ increases its oil output as Russia sees a drop in hydrocarbon revenue.

OPEC+ increases its oil output as Russia sees a drop in hydrocarbon revenue. The OPEC+ countries – Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman – have decided to raise oil production by 411,000 barrels per day in May. This decision is part of a gr...

Wednesday, April 2

Trump threatens Russia with secondary sanctions if Putin does not agree to a ceasefire.

Trump threatens Russia with secondary sanctions if Putin does not agree to a ceasefire. During a meeting with reporters at the White House, US President Donald Trump stated that he does not rule out implementing secondary sanctions on countries that purchase Russian oil if Putin “d...

Monday, March 31

Trump is upset with Putin and threatens sanctions on Russian oil.

Trump is upset with Putin and threatens sanctions on Russian oil. President Donald Trump said he’s “pissed off” at Russian President Vladimir Putin and would consider “secondary tariffs” on Russian oil if a ceasefire with Ukraine cannot be re...

Thursday, March 20

Russia’s European neighbors oppose resuming purchases of Russian energy.

Russia’s European neighbors oppose resuming purchases of Russian energy. Any talk of a return to Russian oil and gas is premature and threatens Europe’s security interests, warn EU countries bordering Russia, amid growing speculation that a US-brokered peace deal cou...

Monday, March 17

The US has increased sanctions pressure on Russia by banning foreign companies from making payments for Russian energy resources.

The US has increased sanctions pressure on Russia by banning foreign companies from making payments for Russian energy resources. European countries can no longer buy oil from Russia. On March 12, the license that permitted Russian banks – such as Sberbank, Alfa-Bank, and the Russian Federation’s Central Bank – to conduct ...

Thursday, March 6

Russian oil worth $1.3B is stuck at sea on tankers due to US sanctions, as China and India refuse to buy.

Russian oil worth $1.3B is stuck at sea on tankers due to US sanctions, as China and India refuse to buy. According to Bloomberg, Russian crude oil is trapped at sea because of sanctions imposed by the US in January. The value of the raw material being transported is $1.35B. Approximately 7.7 million barr...

Thursday, February 27

The EU plans to cut energy imports by €45B by the end of the year.

The EU plans to cut energy imports by €45B by the end of the year. The European Commission is set to present a plan to support European industry, which is struggling with weak demand, cheap imports and higher energy costs than in the US and China. The initiative incl...

Tuesday, February 11

The EU is preparing to seize shadow tankers on a primary Russian oil export route.

The EU is preparing to seize shadow tankers on a primary Russian oil export route. European nations are engaged in closed discussions centered on confiscating clandestine Russian oil tankers in the Baltic Sea, a key pathway for transporting Russian oil via aging vessels. Approximate...

Monday, February 10

Biden’s farewell sanctions have collapsed Russian oil prices.

Biden’s farewell sanctions have collapsed Russian oil prices. In the last days of his term, the Biden administration imposed strict sanctions against more than 180 Russian tankers, dozens of oil trading and insurance companies, and two production companies. Afte...

Wednesday, February 5

Russia has growing problems exporting its oil as the latest sanctions hit the “shadow fleet” hard.

Russia has growing problems exporting its oil as the latest sanctions hit the “shadow fleet” hard. Russian tankers have used various tactics to circumvent restrictions and deliver Russian oil while concealing its source. But now the “shadow fleet” consisting of about 1,300 ships is face...

Wednesday, January 29

Russia will find itself on the verge of collapse if it loses China, a large oil customer.

Russia will find itself on the verge of collapse if it loses China, a large oil customer. Trading in Russian oil for March loadings in Asia has stopped as China is faced with a wide price gap between buyers and sellers. This comes after tanker freight costs soared due to the latest round o...

Tuesday, January 28

Can a decline in oil prices end the Russian war against Ukraine?

Can a decline in oil prices end the Russian war against Ukraine? US Special Envoy for Ukraine and Russia Keith Kellogg believes that stopping Russian aggression against Ukraine will require a reduction in the price of oil to $45 per barrel. The President of the Str...

Monday, January 27

Trump seeks to collapse oil prices and deprive Putin of resources to fund his war; Saudi Arabia and Russia have responded.

Trump seeks to collapse oil prices and deprive Putin of resources to fund his war; Saudi Arabia and Russia have responded. Saudi Arabia’s Minister of Economy and Planning, Faisal Alibrahim, in response to US President Donald Trump’s call to reduce oil prices, noted that his country is focused on the oil market...

Tuesday, January 21

Russia’s largest sponsor in its war against Ukraine bought a record amount of Russian oil but reduced its coal imports.

Russia’s largest sponsor in its war against Ukraine bought a record amount of Russian oil but reduced its coal imports. China increased its crude oil imports from Russia in 2024 by 1% compared to 2023 to a record level. Imports from Russia amounted to 108.5 million tons, equivalent to 2.17 million barrels per day. Seab...

Monday, January 20

The US has imposed restrictions on unfinished Russian oil tankers, and the EU has found a way to circumvent Hungary’s veto on Russian sanctions.

The US has imposed restrictions on unfinished Russian oil tankers, and the EU has found a way to circumvent Hungary’s veto on Russian sanctions. Six Russian oil tankers being built at the Zvezda shipyard have been included in US sanctions among 183 total affected vessels. This is the first time tankers have been blacklisted before having set s...

Wednesday, January 15

Tankers are anchored, and stocks are losing value: What is happening to the Russian oil industry after new US sanctions?

Tankers are anchored, and stocks are losing value: What is happening to the Russian oil industry after new US sanctions? At least 65 oil tankers have dropped anchor off the coast of China and Russia after the US announced a new package of sanctions. Data from ship tracking services show that five tankers have stopped mo...

Tuesday, January 14

Negotiation leverage: New oil sanctions will cause billions in monthly losses for Russia.

Negotiation leverage: New oil sanctions will cause billions in monthly losses for Russia. The White House stated that new restrictions imposed against Russia are “the most significant sanctions against its energy sector.” They will cost Russia billions of dollars every month, a...

Despite the shadow fleet, Russia is losing revenue from a key source of financing for its war in Ukraine.

Despite the shadow fleet, Russia is losing revenue from a key source of financing for its war in Ukraine. Russia’s oil export revenues fell by $1.1B to $14.6B in November 2024 due to lower oil prices and export volumes, according to a study by the KSE. In November, Russian crude oil exports by sea fell by...

Six European countries have called on the G7 to lower the Russian oil price ceiling.

Six European countries have called on the G7 to lower the Russian oil price ceiling. Six EU countries have called on the European Commission to lower the price ceiling for Russian oil that has been set by the G7 countries. Measures aimed at reducing oil export revenues are crucial bec...

Thursday, January 9

China has banned Russia’s shadow fleet from entering major oil ports.

China has banned Russia’s shadow fleet from entering major oil ports. China’s largest port operator, Shandong Port Group, has banned tankers under US sanctions from entering ports in Shandong province, home to many independent refineries that are the largest oil i...

Tuesday, January 7

The US is preparing new sanctions against Russia’s shadow fleet.

The US is preparing new sanctions against Russia’s shadow fleet. The administration of US President Joe Biden plans to impose additional sanctions on tankers carrying Russian oil, Reuters writes. According to sources in the publication, the Biden administration pla...

Monday, January 6

To end the Russian war sooner, the West must tighten oil sanctions against Moscow.

To end the Russian war sooner, the West must tighten oil sanctions against Moscow. The administration of US President Joe Biden is considering tightening sanctions against Russia, in an attempt to reduce Russia’s ability to finance its military aggression, and creating the pre...

Monday, December 23

Ukraine will cease the transit of Russian gas on January 1, but pro-Russian EU leaders have not given up hope for its continuation.

Ukraine will cease the transit of Russian gas on January 1, but pro-Russian EU leaders have not given up hope for its continuation. Beginning January 1 2025, the Ukrainian GTS will be able to transport gas of Russian origin only at the request of the European Commission, Prime Minister Denys Shmyhal said. At the same time, accordi...

Wednesday, December 11

Russia’s oil export revenue is growing, allowing it to finance its war in Ukraine.

Russia’s oil export revenue is growing, allowing it to finance its war in Ukraine. According to KSE analysis, in October 2024, Russia’s oil export revenue increased by $1.2B, to $15.6B. 85% of deliveries were made by shadow tankers, which allowed Russia to evade the price limi...

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