Russian Crude Export Revenues Collapse to Lowest Level Since February 2022 Invasion as Sanctions and Attacks Intensify

Russia'sRU revenues from crude oil and refined product exports fell to their lowest level since the February 2022 invasion of UkraineUA, reaching $10.97 billion in November, according to data released Thursday by the International Energy Agency. The $3.59 billion year-over-year decline reflects mounting pressure from both intensified Western sanctions and escalating Ukrainian military attacks on critical energy infrastructure.

The Paris-based IEA reported that total Russian oil and fuel exports dropped by 400,000 barrels per day to 6.9 million bpd in November, as buyers reassessed the implications and risks of stricter sanctions enforcement. Urals crude prices collapsed $8.20 to $43.52 per barrel, dragging export revenues to their lowest point since the invasion began nearly three years ago.