Russia’s Seaborne Crude Oil Exports Keep Coming
Shipments show no immediate impact from latest European curbs.
Russia’s seaborne crude exports are flowing unabated, despite European Union regulations that prohibit dealings with the country’s state energy companies. Shipments persist even as Ukrainian President Volodymyr Zelenskiy renews calls for more sanctions against Moscow.
Overall crude shipments edged lower in the seven days to May 20, but showed little clear impact from the EU restrictions that came into effect on May 15. A total of 32 tankers loaded about 24 million barrels from Russian export terminals, according to vessel-tracking data and port agent reports. That put average seaborne crude flows at 3.44 million barrels a day, down by 3% from 3.55 million barrels in the week ended May 13.