Russia's seaborne crude near 16-month high despite U.S. pressure

Russia's seaborne crude exports have remained near a 16 month high over the past four weeks, showing little impact from U.S. efforts to persuade buyers to stop purchasing Moscow's oil, vessel tracking data through Sept. 28 show. Average daily shipments held at about 3.62 million barrels, matching the highest level since May 2024, while flows to Asian customers rose to their highest level in the same period.

The sustained exports come amid stepped-up diplomatic and economic pressure by the United States on countries including India, Turkey, Hungary and Slovakia to curb purchases of Russian crude. U.S. officials have targeted trade measures and tariffs to encourage a reduction in imports, but several buyers have cited cost, logistics and energy security as reasons to continue ties with Russia. India’s crude receipts from Russia dipped slightly in September to roughly 1.6 million barrels a day, about one third of its overall shipments, but New Delhi has not signaled a decision to stop buying discounted Russian cargoes.

Commerce and Industry Minister Piyush Goyal said India expects to expand energy trade with the United States in coming years, adding, "We are big importers of energy...