Decline in Russian Oil Exports Linked to New U.S. Sanctions
Russian Oil Flows From Second Biggest Baltic Port Unexpectedly Tumble 🔗
Russian oil exports from the Ust-Luga port, the second-largest in the Baltic Sea, have unexpectedly declined following the announcement of new U.S. sanctions on Russian oil. In December, several scheduled shipments failed to load, and January's exports are significantly lower than usual. Although the decline is speculated to be linked to these sanctions, Russia has not provided a clear explanation for the drop. Factors such as recent attacks on Russian energy infrastructure and an incident at a pump station may have contributed as well. Despite storm conditions, these typically do not affect planned flows, and the drop in shipments is noteworthy, with January's exports expected to reach the lowest levels since July 2021.
What caused the decline in Russian oil exports from Ust-Luga?
The decline is thought to be related to new U.S. sanctions on Russian oil, but there are also other contributing factors, such as attacks on energy infrastructure and an incident at a nearby pump station.
How significant is the drop in oil exports from Ust-Luga?
The oil exports from Ust-Luga have decreased by 44% in January compared to December, with flows expected to be the lowest since July 2021.
Are there any weather-related issues affecting the shipments?
No significant ice-related conditions have been reported at Ust-Luga, and while there have been storm days, planned flows are typically not cut due to expected adverse weather.