The week of 16 to 22 October 2023, Russia exported an estimated EUR 6.04 bn worth of fossil fuels: EUR 2.73 bn oil, EUR 1.87 bn oil products and chemicals, EUR 0.88 bn gas and EUR 0.55 bn coal.
EUR 2.34 bn was loaded on European/G7 owned or insured tankers, helping finance Russia’s invasion of Ukraine.
The top five importers were China, India, Turkey, EU and Malaysia.
|The weekly update of Russian fossil fuel exports was prepared by Isaac Levi, Europe-Russia Policy & Energy Analysis Team Lead, CREA; and Hubert Thieriot, Lead Data Scientist, CREA.|
|Note on methodology:|
From 16 October 2023, our weekly snapshots use Kpler instead of MarineTraffic and Datalastic to estimate seaborne exports of fossil fuels from Russia to other countries. This will lead to some disparities between the preceding and following reports.
Dates featured are the date the arrival of the shipment was captured by our algorithm. 80% of arrivals for shipments are found within 4 days of the arrival portcall in the specific port. For our oil products and chemicals commodity group, this contains a wider range of items than just those specified in the February 2023 sanctions.
More information about our methodology and changes can be found on our website: