Russian oil exports in April reached their highest level since the beginning of the invasion of Ukraine despite heavy Western sanctions, reaching $15 billion, the International Energy Agency (IEA) said today.

The Paris-based international body said in its monthly report that Russian exports last month reached 8.3 million barrels per day, as the country did not follow through on its threat to cut production by 500,000 barrels. daily.

“Russia may increase its production volume to compensate for the loss of revenue,” the IOC observed.

Despite international sanctions targeting its oil, Russia has managed to redirect its hydrocarbon exports to other countries (China, India, Turkey…), but Moscow “seems to be having a bit of trouble finding buyers for its crude and its petroleum products,” the report also states.

“In April, Russia’s oil exports reached a post-invasion high of 8.3 million barrels per day” (including refined products), the IOC writes, an amount that represents a “$1.7 billion increase in revenue” ”, at 15 billion dollars.

The report also notes “a recovery in Chinese demand that exceeded expectations” with “an all-time record in March at 16 billion barrels per day” for the Asian country, the world’s second oil consumer after the United States.