Russian fuel oil exports to Asia slowed in early 2026 as tighter Western sanctions and heightened scrutiny complicated trade, while Ukrainian drone attacks reduced refinery output, shipping data and industry sources said.
The slowdown comes at a time when Venezuelan fuel oil shipments to China have also declined, raising concerns about tighter supplies of high-sulphur fuel oil across Asia.
Ship-tracking data from Kpler showed Russian exports to Asia at about 1.2 million metric tons so far in January, or roughly 246,000 barrels per day.
That volume is on track to fall for a third consecutive month, down sharply from 2.5 million tons exported in January 2025.
Industry sources said several Russian refineries have been shut for repairs since October following drone attacks, while severe winter weather has disrupted cargo loadings. Traders also cited longer and more complex shipping routes as buyers sought to avoid sanctions exposure.
U.S. sanctions imposed in October on major producers Rosneft and Lukoil have made buyers more cautious, analysts said.
Some cargoes have been diverted to storage, including at Egypt’s Port Said, or rerouted around Africa, with final destinations unclear.
Indonesia’s Karimun oil terminal resumed Russian fuel oil imports in December and January after a six-month pause, receiving more than 300,000 tons.
Despite the slowdown, market participants said Asia is likely to remain Russia’s main outlet for fuel oil in 2026 unless sanctions are eased.