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In July 2025, the share of G7+ in Russian oil transportation increased from 36% to 55% compared to January, but old shadow fleet vessels remain a serious threat. About reported Center for Research on Energy and Clean Air (CREA).

Last month, 25.3 million tons of Russian oil were shipped by sea, and more than half of these shipments were made by tankers owned or insured by G7+ countries.

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G7+ tankers handled 42% of crude oil shipments in July, compared to only 17% in January. The use of "shadow" crude oil tankers decreased from 83% in January to 58% in July.

Despite this, shadow tankers continue to be a significant problem. Of the 388 vessels carrying Russian oil and oil products, 122 were shadow tankers, and one third of them were over 20 years old.

Old and insufficiently insured vessels pose a serious environmental and financial threat: in the event of an oil spill, coastal countries could spend more than €1 billion on cleanup and compensation.

At the same time, the average price of Russian Urals oil in July remained unchanged at $65.1 per barrel.

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China was the largest buyer of Russian fossil fuels in July. The country's imports accounted for 42% (€6.2 billion) of Russia's monthly export revenues from the five largest importers.

India, Turkey, the EU, and Saudi Arabia were also among the largest buyers of Russian fossil fuels. In the EU, Hungary became the largest importer.

CREA analysts note that a decline in the price of Russian oil to $30 per barrel would reduce Russia's export revenues in this segment by 40% (150 billion euros) from December 2022 to the end of June 2025.

In July alone, the price cap would have reduced Russian revenues by 36% (€3.84 billion).

  • Russian budget revenues from oil and gas, the most important source of revenues, which should account for about 22% of the total this year, in July decreased by 27% due to lower prices and a stronger ruble.
  • New sanctions warned by the US President are possible Donald Trump in case Russia does not demonstrate any progress towards peace in Ukraine, increased pressure on the economy.