Oil exports through Russia's Ust-Luga port have decreased by 44%, according to Bloomberg.

In January 2025, oil exports from Ust-Luga, Russia's second-largest seaport, decreased amid new U.S. sanctions and drone attacks. On average, the port exported around 277,000 barrels of oil per day, representing a 44% decline compared to December 2024.

According to writes Bloomberg, citing data from port agents and vessel tracking history.

It is noted that by the end of December, nearly half of the scheduled tankers were not loaded, and in January, supply volumes fell even further. January is expected to see the lowest supply levels since July 2021.

The publication states that the reasons for the decline in exports are not fully understood, as the downturn began even before the sanctions against the Russian oil sector were announced by the Biden administration on January 10.

Bloomberg suggests that weather conditions may have impacted exports from the port, as 11 stormy days were recorded in the area in January. Additionally, as writes TASS, in January, the tanker Eventin, operating under the Panamanian flag and carrying about 99,000 tons of Russian oil, lost control in the Baltic Sea. The tanker was en route from the Russian port of Ust-Luga to Port Said, Egypt.

Furthermore, the publication notes that weather typically does not serve as a reason for reduced supplies, and the neighboring port of Primorsk is increasing its shipments. According to the Finnish Meteorological Institute, there are no ice conditions around Ust-Luga that sometimes affect exports.

Among other factors that may have influenced the unloading from the port are an accident at the Unecha pumping station in the Bryansk region that occurred at the end of December, as well as attacks by Ukrainian drones.

As highlighted by Bloomberg, while the U.S. sanctions did not have an immediate impact on unloading, the first signs of this are already evident. It is specified that buyers are looking for cargo elsewhere, and tankers are turning around before reaching Russian ports.

Background. Earlier, Mind reported that oil prices dropped due to new statements from Trump regarding energy and trade. The U.S. President announced an increase in oil production in the U.S., leading to a decline in prices.

In addition, India, following China, will refuse to unload Russian tankers that have been sanctioned by the U.S. Both countries have already started seeking additional oil supplies from other countries – Oman, the UAE, and even Canada.