MOSCOW TIME: 24.02.2020 21:07:59

Economy

Russian Oil Exports Before and After Western Sanctions

Russian Oil Exports Before and After Western Sanctions

According to official statistics of the Russian Federal Customs Service, Russias exports of oil extracted from bituminous minerals (except crude), decreased in 2017 by 24m tons or 10% in physical weight and by $58bn or 50% in value terms from 2014.

Dynamics of Russian Oil Exports in 2001/17

---In value terms (bn),---In physical terms (m t)

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Russia’s exports of oil and oil products from bituminous minerals dropped in 2014/17 the lowest to the Netherlands (by $14.5bn), Italy (by $8.3bn), Latvia (by $8.1bn), Germany (by $3.9bn), South Korea (3.0 (by $2.3bn), United Kingdom (by $2.3bn), France (by $1.9bn), Ukraine (by $1.9bn), Estonia (by $1.7bn), and Singapore (by $1.6bn).

Conversely, Russias exports of bituminous mineral oil and products rose in value terms in 2014/17 to Belarus (by $0.8bn), Poland (by $0.8bn), Greece (by $0.4bn), Morocco (by $0.3bn), Senegal (by $0.2bn), India (by $0.1bn), Denmark (by $0.1bn), Saudi Arabia (by $0.1bn), Brazil (by $0.1bn) and Tunisia (by $0.1bn).


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