In 2022, despite severe sanctions, Russia’s crude oil exports have been higher than the 2021 levels. While the European countries have continued to source their oil from Russia at levels recorded in 2021, exports were markedly higher to non-EU and non-G7 countries such as India. In just past four months, India has imported from Russia more than half the value of crude oil it did, in the past five years put together
Moscow’s oil exports rise
The chart shows weekly exports of Russian crude oil for 2021 (blue) and 2022 (red). Following the invasion, Russia’s crude exports have been, in general, higher than 2021 despite sanctions imposed by many countries
