Story perspectives

Russia's Crude Exports Surge Amid Sanctions and Smuggling

2/22/2026

Summary

Story summary

Russia's seaborne crude exports rose despite sanctions, with Baltic shipments reaching 12.7 million tons in January 2026, nearly half transported by sanctioned tankers.
A study finds sanctions caused initial panic but were quickly bypassed.
A smuggling network moved over $90 billion in Russian oil, complicating price-cap enforcement.
Experts say restrictions could target chokepoints such as the Danish and Dover Straits, banning sanctioned vessels from EU and G7 waters.

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Story summary

Russia's seaborne crude exports rose despite sanctions, with Baltic shipments reaching 12.7 million tons in January 2026, nearly half transported by sanctioned tankers.
A study finds sanctions caused initial panic but were quickly bypassed.
A smuggling network moved over $90 billion in Russian oil, complicating price-cap enforcement.
Experts say restrictions could target chokepoints such as the Danish and Dover Straits, banning sanctioned vessels from EU and G7 waters.