Russian oil industry under new sanctions: convenient prices and growth of ships without shipment

Alexey Gromov, Principal Director on Energy studies at the Institute for Energy and Finance, commented on the current situation with Russian oil exports to the online publication Neft and Capital.

According to Alexey Gromov, the Russian oil industry, as expected, has adapted to the new round of sanctions pressure in 2025. He recalled that the new White House administration in the United States is not yet set up to tighten restrictions against the Russian oil industry.

"Now oil exports from Russia feel confident in the context of global oil prices. At a cost of $75 per barrel, most of our oil is trading at the price ceiling, which significantly reduces the sanctions risks for tankers and companies involved in these supplies. This is one of the factors that allows Russia to restore export volumes even with Biden's "farewell" sanctions.

At the same time, Russia’s companies have found tankers for transportation to India from among those that do not fall under the restrictions and have previously worked in other areas. The number of ships departing without specifying their final destination is growing. This means that transshipment from ship to ship is carried out in neutral waters, which was already massively used in 2023. By the way, this is also being done with European carriers," Alexey Gromov said.