Russian fuel oil is reaching Asia in smaller volumes due to sanctions

Russia's exports of fuel oil to Asia have slowed in early 2026: tighter oversight linked to tougher Western sanctions has made trade more difficult, while Ukrainian drone attacks on Russian refineries have reduced output.

Source: Reuters

Details: Reuters reports that the combination of this decline and a drop in supplies of Venezuelan oil to China after the US seizure of President Nicolas Maduro could tighten availability of high-sulphur fuel oil in Asia (used as oil-refinery feedstock and as bunker fuel) and support prices.

Data and analytics platform Kpler reports that Russia's fuel oil exports to Asia in January have so far amounted to about 1.2 million tonnes (around 246,000 barrels per day) and are on track to fall for a third consecutive month. Some cargoes are being redirected into storage ahead of re-export; for comparison, in January 2025 exports totalled 2.5 million tonnes.

Russia's output of petroleum products has been declining since October: a number of refineries halted for repairs after Ukrainian drone strikes. Stormy winter weather in December and January has also affected shipments.

Background: In 2025, pipeline oil supplies to Russian refineries fell to 228.34 million tonnes – the lowest level since 2010.

Support Ukrainska Pravda on Patreon!