Russia still relies on Europe to ship its oil
PORTS & SHIPPING

Russia still relies on Europe to ship its oil

Russia remains dependent on European shipping to transport its oil, even as its oil supplies exceed the price caps set by the Group of Seven (G7), as reported by researchers. Approximately two-thirds of Russian crude oil and petroleum products are being transported by vessels that are insured or owned by nations adhering to the price caps imposed by the G7 and its allied countries, according to findings from the Helsinki-based Centre for Research on Energy and Clean Air (CREA).

This reliance on European shipping highlights Moscow's continued heavy usage of the European shipping industry for its oil transportation needs. The G7 price cap was devised with the aim of ensuring a sufficient flow of oil to the global market while restricting revenue to the Kremlin. However, in addition to the use of Western vessels, Russia has also assembled what is colloquially known as a "shadow fleet" of tankers operating outside the jurisdictions of countries imposing sanctions.

These shadow tankers tend to focus on shorter-distance oil transport routes, where the same tanker capacity can efficiently move more supply, as noted by CREA. This innovative approach allows Russia to navigate the challenges posed by international sanctions while maintaining its oil export activities.

The continued reliance on European shipping and the strategic use of shadow tankers underscore Russia's efforts to adapt to evolving geopolitical circumstances and sanctions, ensuring the continued flow of its vital oil exports to global markets.

Russia remains dependent on European shipping to transport its oil, even as its oil supplies exceed the price caps set by the Group of Seven (G7), as reported by researchers. Approximately two-thirds of Russian crude oil and petroleum products are being transported by vessels that are insured or owned by nations adhering to the price caps imposed by the G7 and its allied countries, according to findings from the Helsinki-based Centre for Research on Energy and Clean Air (CREA). This reliance on European shipping highlights Moscow's continued heavy usage of the European shipping industry for its oil transportation needs. The G7 price cap was devised with the aim of ensuring a sufficient flow of oil to the global market while restricting revenue to the Kremlin. However, in addition to the use of Western vessels, Russia has also assembled what is colloquially known as a shadow fleet of tankers operating outside the jurisdictions of countries imposing sanctions. These shadow tankers tend to focus on shorter-distance oil transport routes, where the same tanker capacity can efficiently move more supply, as noted by CREA. This innovative approach allows Russia to navigate the challenges posed by international sanctions while maintaining its oil export activities. The continued reliance on European shipping and the strategic use of shadow tankers underscore Russia's efforts to adapt to evolving geopolitical circumstances and sanctions, ensuring the continued flow of its vital oil exports to global markets.

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement