Russia’s War in Ukraine Revives the Red Sea as a Vital Oil Route
- Rerouted shipments have boosted Red Sea oil traffic by 140%
- Tanker safety is now important for Asia as well as Europe
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Russia’s war in Ukraine has made the now-treacherous waters of the southern Red Sea a vital global trade corridor for oil — especially Moscow’s own exports.
As Europe has shunned Russian barrels, it has increasingly relied on cargoes from the Middle East. Meanwhile, Moscow has boosted flows to Asia as it seeks outlets for its exports. That’s raised the movement of oil through the Red Sea, both northbound and southbound, by around 140%, to 3.8 million barrels a day.