September 2024 — Monthly analysis of Russian fossil fuel exports and sanctions,

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  • In September 2024, Russia’s monthly fossil fuel export revenues dropped 2% to EUR 618 mn per day, marking the sixth consecutive month of decline.
  • The five largest Russian fossil fuel importing countries in the EU paid Russia a total of EUR 1.3 bn for their imports.
  • 34% of Russian seaborne crude oil and its products were transported by tankers subject to the oil price cap. The remainder was shipped by ‘shadow’ tankers and was not subject to the oil price cap policy.
  • Since introducing sanctions until the end of September 2024, thorough enforcement of the price cap would have slashed Russia’s export revenues by 8% (EUR 23.11 bn).
  • A lower price cap of USD 30 per barrel would have slashed Russia’s oil export revenue by 25% (EUR 68 bn) from the end of September 2024 until the sanctions were imposed in December 2022. A USD 30 per barrel price cap would have slashed Russian revenues by 26% (EUR 2.86 bn) in September alone. Läs artikel
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