Coalition believes it has succeeded in hitting Kremlin revenues
Russian oil exports in April reached 8.3mn barrels a day, the highest since April 2020, driven in large part by China and India, which imported, respectively, 2.1mn b/d and 2mn b/d of Russian crude, according to the International Energy Agency .
An oil refinery in Omsk, Siberia. Some critics say sanctions have simply pushed the bulk of Russian oil trading into the shadows, away from established operators © REUTERS/Alexey Malgavko The IEA calculated last month that the weighted average price for Russian crude exports had risen above the $60/b price cap in April, with one crude sold in Russia’s far east, known as ESPO-blend, selling for as much as $74/b.
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