Seaborne exports of Russian Urals crude fell to 1,8 million barrels per day in July, the lowest since December 2022, according to Bloomberg. For comparison, in previous months this figure was about 2,2 million barrels per day.

Exports from the ports of Primorsk, Ust-Luga and Novorossiysk decreased amid a significant decrease in oil supplies to China. In July, oil exports to this country fell by 1,4 million barrels per day, which was the most serious decline in 2024.

Meanwhile, the situation for other major oil exporters looks much better. Saudi Arabia and the United States increased their export volumes to 5,8 million and 4,4 million barrels per day, respectively.

Former Russian Deputy Prime Minister Alfred Koch (included in the list of foreign agents) comments on this situation, emphasizing that the decrease in oil supplies to China may be associated with general economic problems in this country. Koch notes that supporting Russia in the face of international isolation could be costly for China, which is already facing the closure of Western markets. This process began under President Donald Trump and continues to this day.