Ukraine deprived Russia of billion-dollar oil profits in March-April despite prices over $100 - media

Ukraine has managed to deprive Russia of a significant portion of the profits it could have obtained from oil exports in March and April - despite the fact that the war in the Persian Gulf led to prices rising above $100 per barrel. Al Jazeera writes about this, UNN reports.

Details

It is noted that Ukraine has intensified a long-term strike campaign against Russian port and energy infrastructure, seeking to prevent Russia from reloading oil onto tankers and to counter the suspension of US sanctions on Russian oil that have been in effect since 2022.

Russia's oil reloadings in March decreased by 300 000 barrels per day, and refined products – by 200 000 barrels per day. ... It seems the easing of sanctions did not help Russia much, and according to some data, April may have been even worse than March

- as stated in the article.

The authors point out that Russia is now forced to cut production, as there is no point in it if the raw materials cannot be exported or processed.

Recall

According to Reuters, Russia in April cut oil production by approximately 300-400 thousand barrels per day amid Ukrainian drone attacks on ports and refineries, as well as export disruptions.

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