Russian oil exports jumped to their highest level in almost three years in March

14 Apr 2023 · 2 min
2:23

In a Persian‑language interview, Washington‑based energy analyst Omid Shokri explains why Russian crude oil exports surged to their highest level in almost three years despite Western sanctions. He outlines the supply‑demand balance that makes oil attractive when priced competitively and insured, and describes how Russia has shifted sales to new major buyers—China, India, and Turkey—while using Indian refiners and Arab traders as intermediaries to route oil indirectly into Europe. Shokri also discusses the broader implication for the global energy transition, noting that fossil‑fuel dominance will gradually wane as renewables, hydrogen, and electricity gain market share, but that oil will remain a significant player in the near‑term. The interview touches on the role of tanker insurance, price differentials, and the strategic importance of maintaining energy flow to avoid a winter crisis in Europe.

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