Russian oil exports crater by 54% in the first full week of the EU's embargo amid a shortage of tankers willing to carry cargoes

Dec 20 2022 by Business Insider

 
Russian President Vladimir Putin.

Sergei Guneyev, Sputnik, Kremlin Pool Photo via AP, File

Russian oil exports are collapsing following the onset of the EU's Russian seaborne crude embargo.  In the first full week after the ban, total exports dropped by 1.86 million barrels a day, or 54%, per Bloomberg. Meanwhile, energy giants like Shell and Exxon Mobil have stopped using ships that previously carried Russian cargoes. 

Since the European Union imposed its seaborne crude sanctions, Russian...

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