Russian oil exports down from last year, Bloomberg reports
Russia's crude oil exports declined sharply in the first seven months of 2025, falling by nearly 30 million barrels compared to the same period in 2024, Bloomberg reported July 29.
According to shipping data compiled by Bloomberg, Russia exported four percent less crude oil—roughly 30 million fewer barrels—than during the same stretch last year. The decline is even steeper compared to 2023, with exports down seven percent so far this year.
Bloomberg analysts noted that shipping data offers critical insight into what Russia actually sells to global markets, particularly as the Kremlin classified oil production data shortly after launching its full-scale invasion of Ukraine in 2022. Export volumes now serve as the clearest indicator of the Moscow's crude oil output.
Asia—particularly China and India—remains the primary market for Russian oil, with exports to the region steady at around 2.86 million barrels per day.
Meanwhile, shipments to Northern Europe, the Mediterranean, and the Black Sea region have fallen significantly since the start of the full-scale war in 2022.
Russia's economy, long reliant on oil and gas revenue, is showing signs of strain amid declining energy income and ongoing Western sanctions, according to both Russian and Western financial analysts.
Further economic pressure could come if U.S. President Donald Trump follows through on a threat to impose secondary tariffs on countries that continue buying Russian oil.
Trump initially gave Russian President Vladimir Putin a 50-day deadline to reach a peace agreement with Ukraine in order to avoid new sanctions. That timeline was recently shortened to 10 to 12 days, with Trump citing growing frustration and impatience with the Russian leader.
