Russian oil exports through the Baltic have halved.

The oil export from the port of 'Ust-Luga' in the Baltic Sea has unexpectedly decreased in recent weeks. According to Bloomberg, in the last two weeks of December, the port failed to load six out of 14 planned tankers. In January, exports continued to decline, reaching the lowest level since July 2021 - 277,000 barrels per day. The reasons for this decline are still unclear, but may be related to sanctions against Russian oil, attacks on Russian energy infrastructure, and stormy conditions in the region. Russian oil product exports by sea have also decreased in 2024.