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Putin's oil crisis: empty freighters waiting for buyers - billions in losses looming!
Russia is struggling with oil exports and billions in losses, while sanctions are destabilizing the market. A look at the economic consequences.
Putin's oil crisis: empty freighters waiting for buyers - billions in losses looming!
Russia's dependence on its oil revenues is increasingly becoming a problem. The country's economy is having a hard time, especially because oil sales are falling dramatically. How Mercury According to reports, numerous freighters carrying Russian oil are currently waiting to be unloaded at Chinese and Indian ports. At least 20 ships are affected, and the amount of Russian oil at sea has increased by a whopping 48% since the end of August.
In the week ending December 21, 2025, there were 38 tankers on course with 28.31 million barrels of Russian oil on board. In comparison, the previous week there were only 22.73 million barrels on 29 ships. This development is not only due to the weather or logistical problems, but is also influenced by US sanctions and international markets. In particular, refiners in India and China have signaled that they may cut off oil supplies from major Russian refiners such as Rosneft and Lukoil in the future.
Scramble for permits
The long wait for permission to unload the ships can also be interpreted as a sign of Russia's ongoing difficulties in the international oil business. Sanctions pressure and geopolitical tensions have only exacerbated the situation. Since the noticeable decline in exports to China - from 1.01 million barrels per day to 950,000 barrels - and to India - from 900,000 barrels per day to 840,000 barrels - uncertainty has continued to grow. daily news highlights that the EU plans to completely stop importing Russian oil and gas from January 1, 2028, making the situation for Russia even more precarious.
Current prices for Russian oil are currently under pressure. On December 16, Urals oil was trading at just $34.52 per barrel. To further clarify the price situation: price discounts compared to Brent oil have increased to between 30% and over 50%. These are alarming signals for a nation that earned $192 billion from exporting crude oil and products in 2022, according to the International Energy Agency (IEA).
Future prospects and geopolitical reactions
The geopolitical situation remains tense. A new EU sanctions package was recently adopted in response to the mobilization and annexation of parts of Ukraine. It is the eighth sanctions package since the attack on Ukraine, and although it was described as "weak but better than nothing" by Lithuania's Foreign Minister Gabrielius Landsbergis, it could further harm the Kremlin. Details are not yet fully known, with a price cap on Russian oil being discussed as a key issue.
Loud star The impending loss of Russian oil exports could increase the price of oil globally. A significant drying up of Russian oil could send prices as high as $80 a barrel, presenting a bleak outlook for oil-dependent economies. Finally, a long-term decline in global oil demand is also expected starting in 2030, which could potentially put even more pressure on the already struggling Russian oil business.
Overall, the development shows how vulnerable Russia's economy has become in the face of a changing global market and geopolitical tensions. The next period will decide how the situation will develop and whether new buyers can be found for Russia's crude oil or whether the existing problems will leave deeper wounds.