In March 2026, Russia significantly increased its seaborne oil exports, taking advantage of favorable global market conditions and Washington’s recent decision to temporarily ease sanctions.
According to Bloomberg analysts, Russian exporters have accelerated crude shipments amid a sharp rise in global oil prices and a short-term US license allowing the sale of crude and petroleum products loaded onto tankers until March 12 until April 11. This US decision, made amid the escalating conflict in the Middle East and the effective closure of the Strait of Hormuz, affected approximately 100-125 million barrels of Russian oil in transit or in floating storage.
According to Financial Times experts, Russia is already receiving an additional $150 million per day due to higher prices and unblocked volumes, and the total revenue increase for March could reach several billion dollars.
Despite criticism from European allies and Ukraine, who fear Moscow’s increased financial leverage, the US administration emphasizes that the measure is “narrowly tailored and short-term” and aimed solely at stabilizing global energy prices.
Analysts expect Russia to continue to maximize its window of opportunity in the coming weeks while prices remain high and sanctions relief remains in place. After the 30-day period ends (April 11), Washington may reinstate the restrictions if the situation in the Middle East stabilizes.