13.03.2025, 14:30
Russia's oil export revenues have dropped significantly
Source: OREANDA-NEWS
OREANDA-NEWS By the end of February 2025, Russia's total revenues from oil exports decreased by $2.4 billion, or 16 percent, on a monthly basis. This is reported in the report of the International Energy Agency (IEA).
The total revenue of Russian exporters from sales of oil and petroleum products to foreign buyers over the last winter month amounted to $ 13.28 billion. In annual terms, revenues decreased by $2.6 billion. Analysts cited the decline in world prices for raw materials and the increase in discounts on Russian oil as the main reason for this trend.
Against this background, Russia's oil export revenues decreased by $1.37 billion (to $8.26 billion) in February, while revenue from sales of petroleum products decreased by $1.07 billion (to $5.02 billion). In physical terms, the average daily supply of raw materials from the Russian Federation fell by 80,000 barrels year—on-year, and oil products - by 420,000.
The IEA cited the negative effects of large-scale US sanctions as another reason for the decline in revenues and oil exports. The latest restrictions against the Russian fuel and energy complex (fuel and energy complex) were introduced during the Joe Biden administration. They also affected two oil giants, Gazpromneft and Surgutneftegaz, along with their subsidiaries. Sanctions were also imposed on large insurers — Ingosstrakh and AlfaStrakhovanie.
A total of more than 30 Russian oilfield service companies, including RN-Drilling and OFS Technologies, and more than 100 vessels of the tanker fleet, fell under the new US restrictions. Experts predicted that the expansion of US sanctions would make it difficult to supply Russian raw materials and petroleum products to key buyers — India and China. A few days after the restrictions were imposed, three Russian tankers carrying more than 2.2 million barrels of oil could not unload at the ports of China.
Earlier, Bloomberg reported that since the introduction of the last US sanctions (from January 10, 2025), almost all 15 million barrels of Russian Arctic oil have not reached their final destinations. In turn, in the Asia-Pacific region, only eight of the 22 shipments of Sakhalin oil were exported to their intended destination. At the same time, in early March, oil tankers from the US blacklist loaded and sailed from Russian ports for the first time in more than a year. In addition, an increasing number of ships, according to satellite images, are leaving anchorages to the west of the port of Nakhodka. All this, according to experts, may indicate the gradual adaptation of Russian commodity exporters to the new sanctions.
The total revenue of Russian exporters from sales of oil and petroleum products to foreign buyers over the last winter month amounted to $ 13.28 billion. In annual terms, revenues decreased by $2.6 billion. Analysts cited the decline in world prices for raw materials and the increase in discounts on Russian oil as the main reason for this trend.
Against this background, Russia's oil export revenues decreased by $1.37 billion (to $8.26 billion) in February, while revenue from sales of petroleum products decreased by $1.07 billion (to $5.02 billion). In physical terms, the average daily supply of raw materials from the Russian Federation fell by 80,000 barrels year—on-year, and oil products - by 420,000.
The IEA cited the negative effects of large-scale US sanctions as another reason for the decline in revenues and oil exports. The latest restrictions against the Russian fuel and energy complex (fuel and energy complex) were introduced during the Joe Biden administration. They also affected two oil giants, Gazpromneft and Surgutneftegaz, along with their subsidiaries. Sanctions were also imposed on large insurers — Ingosstrakh and AlfaStrakhovanie.
A total of more than 30 Russian oilfield service companies, including RN-Drilling and OFS Technologies, and more than 100 vessels of the tanker fleet, fell under the new US restrictions. Experts predicted that the expansion of US sanctions would make it difficult to supply Russian raw materials and petroleum products to key buyers — India and China. A few days after the restrictions were imposed, three Russian tankers carrying more than 2.2 million barrels of oil could not unload at the ports of China.
Earlier, Bloomberg reported that since the introduction of the last US sanctions (from January 10, 2025), almost all 15 million barrels of Russian Arctic oil have not reached their final destinations. In turn, in the Asia-Pacific region, only eight of the 22 shipments of Sakhalin oil were exported to their intended destination. At the same time, in early March, oil tankers from the US blacklist loaded and sailed from Russian ports for the first time in more than a year. In addition, an increasing number of ships, according to satellite images, are leaving anchorages to the west of the port of Nakhodka. All this, according to experts, may indicate the gradual adaptation of Russian commodity exporters to the new sanctions.
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