Russia’s seaborne oil exports fell by 7% in May 2025, with tankers operated by Group of Seven Plus (G7+) countries carrying 54% of the shipments, according to a report by the Centre for Research on Energy and Clean Air (CREA).

Source:CREA in its May 2025 report

Quote: "In May 2025, Russian seaborne oil exports fell by 7% month-on-month and almost half (54%) of these exports were transported on G7+ tankers. Since January, the G7+ share in this transport has increased from 35% to 54%, while the share of 'shadow' tankers fell from 65% to 46%."

Details:The centre reported that Russia’s monthly fossil fuel export revenues decreased by 3% from April to €565 million per day in May, the lowest since its invasion of Ukraine. 

Imports of Russian coal to India rose by 34% month-on-month to a record high of 3.74 million tonnes (€686 million).

In May, Russian oil worth €142 million was transported following ship-to-ship (STS) transfers in EU waters, a 55% increase from the previous month. According to the report, 93% of these shipments were carried by G7+ tankers, with only 7% handled by Moscow's shadow fleet.

Russia's revenues from crude oil pipeline transport remained at 8% month-on-month to €59 million per day, although volumes remained stable, CREA reports.

Background: 

• Earlier, it was reported that the Japanese oil refining company Taiyo Oil Co. received Russian oil delivered by a tanker on the blacklist of the US Treasury and the European Union.
• Bloomberg considers it indicative that a G7 country accepted cargo from a blacklisted ship and that buyers around the world are finding it increasingly easy to do business with Moscow.
• It was also reported that the Swedish government announced increased supervision of insurers of foreign ships to combat the Russian shadow fleet. Starting 1 July, the Coast Guard Service and the Swedish Maritime Administration will collect information on insurance not only for vessels entering Swedish ports but also for those passing through territorial waters and the country’s exclusive economic zone.
• In earlier reports, it was indicated that tankers involved in a key scheme to supply Iranian oil to China began to disappear from digital tracking systems – a reaction to the threat of US sanctions, forcing trade participants to change tactics to maintain the flow of oil.

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