Russian Oil Product Exports Hit Historic Low in July Amid Drone Attacks

Russian exports of oil products reached a historic low in July, plummeting to 4.7 million tons. This represents a 23% decrease compared to the previous month and a significant 51% drop from July of the prior year, according to a report by the Centre for Research on Energy and Clean Air (CREA).

The independent, Finland-based research body attributes this sharp decline to ongoing Ukrainian drone attacks targeting Russian refineries. These attacks have hampered production capacity, compelling Moscow to prioritize domestic supply of gasoline and diesel fuel to meet internal demand.

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Russian exports of oil products registered a historic minimum in July and stood at 4.7 million tons, 23% less than the previous month and 51% less than in July 2025.

Overall revenue from Russian fossil fuel exports decreased by 12% month-on-month in July, reaching approximately 683 million euros daily. Despite the drop in oil product exports, revenues from crude oil exports saw a modest 1% increase, totaling around 392 million euros per day. Exports of natural gas via pipelines also increased, boosting daily revenues by 27% to 71 million euros.

China remained Russia's primary customer for fossil fuels in July, contributing 7.7 billion euros, or 43% of total export revenues. India was the largest buyer of Russian crude oil and coal, while Turkey led in oil product imports. The European Union's imports of Russian liquefied natural gas (LNG) and natural gas also saw a notable increase, despite Spain reducing its LNG imports significantly.

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This fall was attributed to continuous drone attacks by Ukraine against Russian refineries, which have limited their production capacity and forced Moscow to prioritize domestic demand to ensure gasoline and diesel supply.