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Russian oil exports rose 6% post-invasion but revenues fell 18% due to Western sanctions and price discounts.
In the year ending February 24, 2026, Russian crude oil exports were 6% higher than they were prior to the invasion, but revenues fell 18% to €85.5 billion as a result of sharp price reductions brought on by Western sanctions.
Due to the G7 price cap and limited access to Western shipping and insurance, exports are significantly discounted—Urals crude trades $30.62 below Brent—despite a 6% volume increase to 215 million tonnes.
While Hungary's veto has prevented the EU from considering a ban on services for Russian seaborne crude, Russia continues to route oil to China, India, and Turkey through a shadow fleet.
Because of loopholes that allow for continued high exports despite lower revenue, analysts call for stricter enforcement, including targeting refineries that process Russian oil.
Las exportaciones de petróleo ruso aumentaron un 6% después de la invasión, pero los ingresos cayeron un 18% debido a las sanciones occidentales y los descuentos en los precios.