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Ukraine crisis Sanctions Tankers and Gas

Ukraine war cuts Russian fuel exports leaving room for shadow fleet crude liftings

  • Destruction at Russian oil refineries has led to a collapse in the country’s fuel supplies, as Putin declares a fuel shortage amid its war with Ukraine
  • Fuel exports have fallen substantially with refinery runs curtailed because of drone attacks, but crude oil exports have been rising
  • With US and EU sanctions in place, shadow fleet tankers could stand to benefit from the disruption to Russian refineries
  • Aframax and suezmax tankers are poised to see greater demand from ports in the Baltic and Black Sea

  • Analysis

Reduced refinery runs has left crude oil barrels up for grabs in export markets as the Kremlin mulls fuel imports and a possible diesel export ban

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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