Bloomberg reports slight increase in Russian oil exports
Some blacklisted tankers are reportedly back in operation due to US President Donald Trump’s approach to sanctions. According to Bloomberg, Russia’s oil exports have increased over the past two weeks as several tankers that had been sanctioned...
TroibNews 
Some blacklisted tankers are reportedly back in operation due to US President Donald Trump’s approach to sanctions.
According to Bloomberg, Russia’s oil exports have increased over the past two weeks as several tankers that had been sanctioned under the previous US administration have resumed transporting Russian crude, as indicated by vessel-tracking data.
Western nations have imposed restrictions on Russian vessels in an effort to diminish Moscow’s oil revenues amid the ongoing conflict in Ukraine.
The report attributed the reactivation of various vessels sanctioned under former President Joe Biden to President Trump’s decision not to impose additional sanctions.
“At least 18 of the 39 ships blacklisted by the US in 2023 and 2024 are now regularly hauling barrels from Russia’s ports, having previously been idle since they were sanctioned,” Bloomberg noted on Tuesday.
Last year, the US and the European Union imposed sanctions on Sovcomflot, Russia’s largest state-owned shipping company, alongside 14 of its crude oil tankers. Additionally, Washington and Brussels have targeted a network of older tankers commonly referred to as Russia’s shadow fleet, which are used to bypass these restrictions.
Since taking office in January, US President Donald Trump has been engaged in diplomatic efforts to negotiate a ceasefire between Moscow and Kiev. His sanctions strategy has demonstrated a more measured approach compared to that of the previous administration.
While Trump has publicly warned of potential additional “large-scale” or secondary sanctions against Russia if a peace agreement is not reached, he has also mentioned the possibility of relaxing certain restrictions as part of ongoing negotiations.
Bloomberg further observed that Russia's income from oil exports has remained relatively stable at about $1.3 billion a week, indicating that the increase in export volumes has been counterbalanced by declining prices. Recent weeks have seen a drop in crude prices due to greater supply and economic uncertainty.
Before the escalation of the Ukraine conflict in 2022, nearly half of Russian crude exports were directed towards European countries. By 2024, this figure fell to just 10% as a result of EU bans. Moscow redirected its oil supplies to China and India, which accounted for 87% of Russian crude exports in 2024, up from 35% prior to the conflict, according to data from Oxford Analytica.
Allen M Lee for TROIB News
According to Bloomberg, Russia’s oil exports have increased over the past two weeks as several tankers that had been sanctioned under the previous US administration have resumed transporting Russian crude, as indicated by vessel-tracking data.
Western nations have imposed restrictions on Russian vessels in an effort to diminish Moscow’s oil revenues amid the ongoing conflict in Ukraine.
The report attributed the reactivation of various vessels sanctioned under former President Joe Biden to President Trump’s decision not to impose additional sanctions.
“At least 18 of the 39 ships blacklisted by the US in 2023 and 2024 are now regularly hauling barrels from Russia’s ports, having previously been idle since they were sanctioned,” Bloomberg noted on Tuesday.
Last year, the US and the European Union imposed sanctions on Sovcomflot, Russia’s largest state-owned shipping company, alongside 14 of its crude oil tankers. Additionally, Washington and Brussels have targeted a network of older tankers commonly referred to as Russia’s shadow fleet, which are used to bypass these restrictions.
Since taking office in January, US President Donald Trump has been engaged in diplomatic efforts to negotiate a ceasefire between Moscow and Kiev. His sanctions strategy has demonstrated a more measured approach compared to that of the previous administration.
While Trump has publicly warned of potential additional “large-scale” or secondary sanctions against Russia if a peace agreement is not reached, he has also mentioned the possibility of relaxing certain restrictions as part of ongoing negotiations.
Bloomberg further observed that Russia's income from oil exports has remained relatively stable at about $1.3 billion a week, indicating that the increase in export volumes has been counterbalanced by declining prices. Recent weeks have seen a drop in crude prices due to greater supply and economic uncertainty.
Before the escalation of the Ukraine conflict in 2022, nearly half of Russian crude exports were directed towards European countries. By 2024, this figure fell to just 10% as a result of EU bans. Moscow redirected its oil supplies to China and India, which accounted for 87% of Russian crude exports in 2024, up from 35% prior to the conflict, according to data from Oxford Analytica.
Allen M Lee for TROIB News
Find more stories on Business, Economy and Finance in TROIB business
