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Russian oil exports rose 6% post-invasion but revenues fell 18% due to Western price caps and shipping restrictions.
Russian crude oil exports remained 6% above pre-invasion levels in the year ending Feb. 24, 2026, but revenues dropped 18% to €85.5 billion due to steep price discounts from Western sanctions.
Despite a 6% volume increase to 215 million tonnes, exports are heavily discounted—Urals crude trades $30.62 below Brent—due to the G7 price cap and restricted access to Western shipping and insurance.
Russia continues routing oil via a shadow fleet to China, India, and Turkey, while the EU considers a ban on services for Russian seaborne crude, stalled by Hungary’s veto.
Analysts urge stronger enforcement, including targeting refineries that process Russian oil, as loopholes allow continued high exports despite reduced revenue.
Las exportaciones de petróleo ruso aumentaron un 6% después de la invasión, pero los ingresos cayeron un 18% debido a los límites de precios y las restricciones de envío occidentales.