Russian Fuel Export Revenues Fluctuate Amid Continued Market Volatility
In September 2026, Russian fuel export revenues remained stable at €625 million ($699.65 million) per day even as actual export volumes fell 6% month on month, with the gap attributed to the Strait of Hormuz crisis. Russian oil product loadings at ports fell 12% month on month in September to about half the September 2025 level, and CREA expects fuel export revenues to remain low in October.
Why it matters: This illustrates the energy security theme: Russia’s revenue stability rests on a shipping crisis it does not control, while supply concerns shape US sanctions relief.