Activity of the rf’s «Shadow Fleet»: November Statistics

In November 2025, 123 tankers involved in the export of oil and petroleum products left russia’s ports – by 17 fewer than in October. Of those, 92 vessels belong to the core of the rf’s “shadow fleet” (77 are under sanctions, 15 are not), while another 31 vessels are not part of this core (10 under sanctions, 21 not, seven new ones included).

russian oil exports decreased to 14 million tons (101.8 million barrels) –  by 2 million tons less than in  the previous month. The largest declines were in deliveries to India, China, and Türkiye, with a combined decrease of 4.6 million tons. Deliveries to other destinations also decreased by 0.7 million tons.

2025 is the first year since the start of the war when russian oil production and refining show a steady decline. The rf’s budget is losing at least $37 billion in oil and gas revenues, while russian oil companies and the energy sector are losing tens of billions of dollars more.

The first month of US and EU sanctions against “Rosneft” and “Lukoil” led to a significant reduction in russian oil imports by China. From October 23 to November 21, deliveries decreased from 41.7 million to 37.2 million barrels (-11 %). Average daily imports dropped from 1.39 million to 1.24 million barrels, and russia’s share in China’s  imports decreased from 14.7 % to 11.2 %. For December, “Rosneft” and “Lukoil” have announced only three shipments to China – a sharp curtailment of  their presence in the key Asian market.

China quickly made up for the deficit with suppliers from the Middle East and Africa, including Saudi Arabia, Oman, and Angola. Within a month, these countries had displaced russia from its position as the largest supplier, having pushed it into second place.