On March 16, the monitoring group of the Black Sea Strategic Research Institute published new data on the export of Russian crude oil from the Black Sea.

It is indicated that in February 2023, compared with January, a decrease in the export of crude oil by Russia by 22% or 800 thousand tons was recorded.

But already in the first half of March 2023, Russia exported 120 thousand tons of crude oil from the Black Sea more than in the whole of February 2023, that is, 2.848 thousand tons, respectively.

At the same time, the monitoring group adds, only 16% of the volumes in the first half of March went to offshore transshipment in the Gulf of Laconia in Greece, and 84% went to Asian countries.

Thus, expert Andrii Klimenko clarifies, on the one hand, the EU embargo works, since in February only a third of the volumes were sent to the EU, and on the other hand, Russia will redirect the Black Sea export flows of crude oil from the EU countries to Asian countries.

We add that according to the “official confessions” of the aggressor’s Ministry of Finance, the average price of Urals oil for the monitoring period from February 15 to March 14, 2023 was about $50.80 per barrel.

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