Russian Fuel Exports Plunge to Wartime Lows Amid Sanctions and Refinery Disruptions

Russian fuel exports have fallen to their lowest level since the start of the full-scale war as a result of Ukrainian drone strikes on oil refineries and new Western sanctions.

The Gaze reports on it, referring to Bloomberg.

According to the media outlet, the average volume of maritime exports of petroleum products from Russia in the first 26 days of October was 1.89 million barrels per day, the lowest since the beginning of 2022.

This decline was the result of disruptions at refineries following Ukrainian attacks on strategic facilities, including the Ust-Luga export hub, as well as tougher sanctions against Rosneft and Lukoil.

Although diesel fuel exports rose by 2% to 740,000 barrels per day thanks to increased supplies from the Black Sea, other types of fuel showed a significant decline.

Crude oil supplies fell by 3% to 317,000 barrels per day, while fuel oil exports fell by 10% to 710,000 barrels per day, the lowest level in three months.

Traders are facing additional difficulties due to a new wave of U.S. sanctions, which will take effect on November 21. This is forcing companies to change routes, flight schedules, and payment methods, especially for deliveries to Asia.

Earlier, Ukrainian President Volodymyr Zelenskyy noted that new U.S. sanctions against Russia’s major oil companies, Rosneft and Lukoil, could cut Russia’s oil revenues by at least $5 billion per month and reduce its oil exports by 56–57%.

As The Gaze previously reported, Ukrainian drones demonstrated their accuracy and effectiveness on the night of October 29, hitting strategic energy facilities in Russia and occupied Crimea and dealing a serious blow to the enemy's logistical and military capabilities.