Russian crude exports fall on G7 tankers as Greek operators flee for better earnings

Russian crude exports on G7 tankers fell sharply in October as Greek operators were enticed by strong earnings elsewhere and steered away from Black Sea conflicts, according to S&P Global Commodities at Sea(opens in a new tab) and Maritime Intelligence Risk Suite data.

The data shows tankers flagged, owned or operated by companies based in G7 countries and their allies, or insured by Western protection and indemnity clubs, loaded roughly 906,000 barrels per day of Russian crude in October, or 24.2% of total exports.

The share was the lowest in seven months. In September, G7 tankers lifted 1.2 million b/d, or 29.2% of total exports.

Shipments by tanker operators in Greece, the top shipowning nation within G7/EU, more than halved to 8.3 million barrels in October from 17.3 million barrels in September, according to CAS/MIRS. October’s loadings were the lowest since December 2024.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →