OUR Russia more exported oil to him April than any other month after his invasion of Ukraine last year, when almost 80% of these exported quantities ended up in China and to Indiaaccording to the International Energy Agency.

In particular, Russian oil exports rose by 50,000 bpd in April 2023 to 8.3 million bpd, well above the averages of 7.7 million and 7.5 million bpd in 2022 and 2021. years respectively.

The growth of Russian exports reflects the success of Moscow, which managed to find new buyers for Russian oil, as well as new vessels after restricting access to Western shipping, according to the Financial Times.

With western background sanctionsMoscow has begun to develop new systems for transporting its oil, working with lesser-known companies and lesser-known tanker owners.

“Russia does not seem to have much trouble finding people willing to buy their oil and oil products,” the International Energy Agency said in a report. a package of sanctions that will be introduced against Moscow from February 2022.

Western sanctions, however, are intended to keep Russian oil from reaching countries outside the EU, according to the FT.

So over the last 12 months we have seen Russia redirect millions of barrels of oil per day from Europe to Asia.

However, despite the increase in oil exports in April, monthly revenue from these exports was 27% lower than in April 2022, the International Energy Agency estimates, partly due to lower energy prices.

Source: FT