79 Sanctioned Tankers Have Stopped Exports, While Insurance Has Risen by 50%: russia Is Losing Profits

Each year russia exports 170 million tons of oil by sea. This is more than 70% of its total oil exports. The main buyers of russian oil are India, China, and Türkiye, which account for 92% of supplies.

This was stated by First Deputy Head of the Foreign Intelligence Service of Ukraine Oleh Luhovskyi in an interview with Ukrinform.

“Over the past three years, more than 900 tankers have been involved in the export of oil from russia, with the majority of them belonging to the ‘shadow’ fleet. At the same time, sanctions are leading to an increase in exporters’ operating costs. As a result, freight charges and costs of insurance have increased by 40-50%. More than 79 sanctioned ships stopped participating in the export of russian oil in 2025,” emphasized the First Deputy Head of the Foreign Intelligence Service of Ukraine.

He also added that buyers demand from russia unprecedented discounts, exceeding 25% of the cost of Brent crude. As a result, this leads to a decrease in foreign exchange earnings, a reduction in revenues and the tax base, as well as a lack of investment, first of all in oil production.

Read more about russia’s “shadow fleet” in the full interview.