PARIS (Realist English). The International Energy Agency (IEA) has reported a sharp drop in Moscow’s oil revenues, amid record volumes of Russian oil exports.
The IEA issues monthly reports on the state of the global oil market. According to experts, in March of this year, the total shipment of Russian oil increased to 8.1 million barrels per day, and exports — up to 3.1 million barrels. This is the highest level since March 2020. The report notes that the growth of Russian oil exports is observed despite Western sanctions imposed against its oil sector.
Russia’s profit from oil sales in March of this year increased by $1 billion, compared with February, reaching $12.7 billion. But this is 43% less than in March 2022, before the introduction of sanctions.
The report also says that Russian oil supplies to the EU countries almost doubled in the period from February to March, to 300 thousand barrels per day. But this figure is still less by 1.5 million barrels per day, compared to the period before the start of the special operation on the territory of the former Ukraine.
Crude oil exports from Russia increased by 100 thousand barrels per day, to 5 million barrels. In March, India overtook China, becoming the main destination for Russian oil supplies in Asia.
Diesel fuel exports from Russia to Turkey reached the highest level since 2018. Ankara has refused to join Western sanctions against Moscow.
