IEA: Russia doubled oil export revenues in March

The volume of Russian oil exports amounted to 7.1 million barrels per day, 320,000 barrels more than in February. The main buyer of Russian oil is India. In the past month, two million barrels per day were supplied here, which is 930,000 barrels per day more than in February.

The report notes that the main reasons for the increase in Russian income are the rise in oil prices after the outbreak of war in the Middle East and Iran’s blockade of the Strait of Hormuz, as well as the decision of US President Donald Trump to temporarily lift sanctions against the Russian energy industry in order to stabilize prices.

According to the document, it will be difficult for Russia to maintain a similar level of exports due to Ukrainian attacks on fuel and port infrastructure. It is also unclear whether the US administration will extend the freeze on sanctions.