Kremlin faces falling oil revenues

With a near-total EU ban on Russian crude imports, Moscow has lost a market on its doorstep for more than 1.5 million barrels of oil a day

 
Russia’s seaborne crude shipments (four-week average, million bpd*)

Asia 	Europe	Other / unknown

Jan 28: 2.82 million bpd. More than 50% goes to Europe

Feb 24: Russia invades Ukraine

Apr 29: Peak of 3.55 million bpd

Dec 2: Europe’s imports fall to 309,000 bpd – less than one-fifth of levels before invasion
              
Dec 5: G7 nations, Australia and EU set $60 per barrel price cap on Russian seaborne crude
                                       
3 
2 
1
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
 

*Barrels per day


Source: Bloomberg 
Picture: Getty Images  
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