Sanctions are about to slam Russia’s still-booming oil export trade


Source: freightwaves.com freightwaves.com

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The Putin regime has been enriching itself through oil exports ever since Russia invaded Ukraine. It still is. Russian oil sales continue to boom as of late October. Russian seaborne crude exports are averaging 3.4 million barrels a day this month, up 2.5% year on year, according to data from Kpler. In the eight months since the invasion, Russia’s average crude exports jumped 12% compared to the eight months prior to the invasion. The good news for those seeking to punish Russian President Vladimir Putin is that Russia’s oil gains face a serious threat in the very near future from...