Crude oil shipments from Russia fell 25% in a single week as the economic consequences of Moscow’s war in Ukraine continue to mount, Bloomberg reported Tuesday.
Russia shipped 3.12 million barrels of crude oil in the week of April 8-April 15, the seventh week of Russia’s invasion. Bloomberg said the volume marked a 25% drop from the previous week.
Citing vessel-tracking data and port agent reports, it said 30 tankers loaded about 21.8 million barrels from all four Russian export terminals that week.
“At current rates of crude oil export duty, the week’s shipments will have earned the Kremlin about $181 million; that’s $60 million less than the previous week,” Bloomberg wrote.
The news agency warned that ships can avoid detection by turning off transponders and the export flow figures can swing depending on when tankers leave.
President Vladimir Putin vowed last week to find alternative markets for its energy exports as the Russian oil dependent European Union faces pressure for an embargo.