UBS Data: Russian Oil Exports Remain 90% of Pre-War Levels Despite Sanctions
Source Summary
UBS chief economist Arend Kapteyn released data showing Russian oil exports remain only 10% below pre-war levels. A reported US-Russia deal to export diesel and crude cargoes has drawn scrutiny from Western officials. Ukrainian drone strikes on Russian refineries and disruptions in the Strait of Hormuz have added pressure to global energy markets and refining capacity.
Why it matters
The resilience of Russian oil exports despite Western sanctions and military disruptions indicates limited effectiveness of current measures to constrain Russia's energy revenues and global market supply.
What remains uncertain
The source does not specify the timeline or terms of the reported US-Russia oil export deal, or confirm whether first shipments have already begun.
