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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.

Global Witness reports that European countries, specifically the Netherlands and the UK, imported at least $565 million worth of diesel in 2025 from Valero's St. Charles refinery in Louisiana, which processes significant volumes of Venezuelan oil. The document asserts that this trade supports US 'imperialist' actions in Venezuela and urges the EU and UK to implement a ban on US-controlled Venezuelan oil and refined products until democratic reforms and transparency are established in Venezuela.

This research paper by Jodie Keane explores the nature of intra-Commonwealth value chains using a mixed-methods approach. It analyzes trade intensity, shifts in intermediate goods sourcing, and firm-level data to determine how Commonwealth members integrate into regional versus global value chains (GVCs). The findings suggest a prevalence of additive value chains and a specific tendency for Small Island Developing States to export within the Commonwealth.