Bloomberg: Russia's Oil Revenues Collapse To Record Low Since War Began
1- 12.03.2026, 14:56
Because of the "double whammy," Russians lost $1.5 billion in one month alone.
Russia's oil export revenues last month fell to their lowest level since the full-scale invasion of Ukraine.
Russia's oil exports fell to their lowest level since the full-scale invasion of Ukraine, Bloomberg reported.
It was affected by both Western sanctions, which have limited sales and forced the aggressor country to offer big discounts on oil, and Ukraine's effective strikes on Russia's oil infrastructure.
Drop in export revenues
The agency notes that last month Russia earned $9.5 billion from exports of crude oil and oil products. That's $1.5 billion less than January's figures.
Total oil exports fell 850,000 bpd to 6.6 million barrels, also the lowest level since Russia's full-scale invasion of Ukraine in 2022.
The decline last month came after the introduction of more discounts on Russian oil. The U.S. has increased pressure on the aggressor country, making it harder to sell its oil on global markets.
Ukrainian strikes on Russia's oil infrastructure and fuel refineries reduced refinery output by about 300,000 bpd to 5.1 million bpd in February. In addition, this also contributed to a reduction in crude oil exports.
As a result, the daily crude oil production in the aggressor country fell by 710 thousand barrels - to 8.55 million bpd. Earlier this week, Russian production in February was estimated at 9.184 million bpd.
At the same time, Bloomberg notes that the war in the Middle East may lead to an increase in demand for Russian oil, as several countries in the region are cutting their own production.
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