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In April 2024, Russia's fossil fuel export revenues experienced a slight decrease of 1% to EUR 732 million per day[1]. Despite this overall drop, there were notable fluctuations in different sectors. Revenues from seaborne crude oil increased by 7% to EUR 268 million per day, attributed in part to a 2% rise in the price of Russian crude oil[1].
Additionally, higher export volumes via pipeline contributed to a 5% increase in revenues from crude oil transported through pipelines to EUR 102 million per day[1]. However, revenues from seaborne oil products saw a significant 16% decrease to EUR 196 million per day, partly due to reduced refining capacity following Ukrainian drone strikes that led to a drop in Russian refinery runs by 2% compared to the previous month[1]. On the other hand, Russian LNG export revenues grew by 8% to EUR 38 million per day, driven by expanded exports to Asian countries, particularly China, and increased natural gas prices in both Asia and Europe[1].
Citations:
[1] https://energyandcleanair.org/april-2024-monthly-analysis-of-russian-fossil-fuel-exports-and-sanctions/
[2] https://www.spf.org/iina/en/articles/takahashi_01.html
[3] https://energyandcleanair.org/march-2024-monthly-analysis-of-russian-fossil-fuel-exports-and-sanctions/
[4] https://freepolicybriefs.org/2024/03/14/sanctions-russia-war-ukraine/
[5] https://www.eia.gov/international/analysis/country/RUS
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