Oil agony: russian federation is trying to increase oil exports before the EU sanctions

Before the onset of winter, russia is trying to increase the volume of oil exports. For this, the terrorist country buys decommissioned tankers for the “shadow fleet”.

Currently, russian seaborne exports of raw oil average 3.4 million barrels per day, which is 2.5% more than last year. Eight months after the February invasion of Ukraine,raw oil exports from russian federation increased by 12%, reports Hellenic Shipping News with reference to Kpler analysts.

However, in the near future, russian exports will face a shortage of available tankers. We would like to remind you that from December 5, vessels with European insurance, or those under the flags of EU countries, will not be able to transport russian oil. Therefore, russia is looking for alternative ways to export oil, in particular, the involvement of decommissioned ships of the “shadow fleet”.

Thus, since April, tankers that previously transported sanctions-free Iranian and Venezuelan exports have been delivering russian oil, mainly to China and India, Braemar brokerage reported.

In general, the number of all “shadow” tankers is 240 units, mostly smaller and medium-sized, of which 74% are over 19 years old. Eighty of these vessels are VLCC tankers, which are too large for russian ports but can be used for ship-to-ship cargo.

In addition, to enter the ice-covered ports of the Baltic and Barents seas, russia will be forced to rely on its own ice-class fleet, consisting of 34 Aframax vessels and four Suezmax vessels.

“In the future, russia will not be able to maintain its crude oil exports at today’s level in the harsh winter conditions,” the BRS brokerage said.

Previously, USM wrote that russian federation почала активно відбудовуватиbegan to actively rebuild the global tanker fleet before the EU ban on the sale of russian oil.

In addition, before the onset of winter in russia, зростають ціни prices for ice-class tankers increase significantly.