One year on: Western companies traded 533 million barrels of Russian oil

Global Witness reports that Western companies traded 533 million barrels of Russian oil and oil products in the year following the invasion of Ukraine, representing nearly 25% of Russia's total sea-borne exports. While trade shifted toward India, China, and Turkey, Western entities—particularly traders like Vitol and Gunvor, and Greek-owned tankers—remained significant enablers. Western-owned tankers carried over 897 million barrels, with 83% of that volume handled by Greek-owned vessels.

• Western trading companies and oil majors traded 533 million barrels of Russian oil and oil products since February 24, 2022, which includes over 171 million barrels of crude oil valued at approximately $14.8 billion. This volume represents just under 25% of all Russian oil exported by sea during that period.
• Vitol and Gunvor were the top two Western traders of Russian oil. Vitol facilitated the sale of more than 113 million barrels, including crude oil worth an estimated $2.4 billion. Gunvor facilitated the shift of more than 109 million barrels, including crude oil worth an estimated $772 million.
• Major oil companies also engaged in the trade: TotalEnergies traded 29 million barrels, BP traded 16 million barrels, and Shell traded 15 million barrels.
• Western-owned tankers were critical to Russian exports, carrying over 897 million barrels of oil and oil products, which is more than 41% of all sea-borne Russian fossil fuel exports. Greek-owned tankers accounted for 83% of the volume carried by Western shipping companies.
• Three Greek shipowners—Economou Group of Companies, Andreas Martinos & family, and Dimitris Prokopiou & family—were among the top five shippers, collectively carrying 292 million barrels of oil and oil products.

APA

Global Witness (n.d.). One year on: Western companies traded 533 million barrels of Russian oil. https://globalwitness.org/en/campaigns/fossil-fuels/one-year-on-western-companies-traded-533-million-barrels-of-russian-oil/

Chicago

Global Witness. One year on: Western companies traded 533 million barrels of Russian oil. n.d. https://globalwitness.org/en/campaigns/fossil-fuels/one-year-on-western-companies-traded-533-million-barrels-of-russian-oil/.

Wikipedia

{{cite report |author=Global Witness |title=One year on: Western companies traded 533 million barrels of Russian oil |url=https://globalwitness.org/en/campaigns/fossil-fuels/one-year-on-western-companies-traded-533-million-barrels-of-russian-oil/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{globalwitnessndone, author = {{Global Witness}}, title = {{One year on: Western companies traded 533 million barrels of Russian oil}}, institution = {Global Witness}, url = {https://globalwitness.org/en/campaigns/fossil-fuels/one-year-on-western-companies-traded-533-million-barrels-of-russian-oil/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }