Russia’s revenues from fossil fuel exports fell for the third time in a row in August, while the importance of the so-called shadow fleet in oil transportation is increasing again.
The Centre for Research on Energy and Clean Air (CREA) has published its monthly analysis of Russian fossil fuel exports and sanctions.
According to the analysis, the transportation of Russian oil by so-called “shadow tankers” increased again in August. The share of G7+ tankers, on the other hand, fell by eight percentage points month-on-month, according to the research institute.
Russia’s monthly revenues from fossil fuel exports fell for the third month in a row in August. They fell by 2% compared to the previous month to €564 million per day.
Coal shipments rise to record level
Revenue from coal exports rose by 7% month-on-month and reached the highest level of the year. According to the analysis, this increase in Russian coal exports was primarily due to higher purchases from South Korea. Electricity consumption increased there, which is why imports of Russian coal rose by 36% – a record level.
In August 2025, only just over half (53%) of Russian oil shipments were transported by G7+ tankers – a decrease of eight percentage points compared to July. This indicates a renewed increase in the use of the “shadow fleet”.
A good quarter of the oil delivered by “shadow tankers” was transported on ships that are currently subject to sanctions. These sanctioned tankers transported 12% of Russian oil exports in August, according to the report.
