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Putin Blocks Access to Russian Energy Trade Data

Bloomberg Markets •
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Russian President Vladimir Putin imposed sweeping new restrictions on what can be accessed and reported about the country’s energy trade, adding a fresh layer of secrecy about activity in one of the world’s top oil-and-gas producing nations. Putin signed a decree on Monday prohibiting access and publication of any details in export contracts, including volumes, prices, sellers and buyers, carriers, insurers, the maritime transport used, loading terminals, payment settlements — as well as the use of customs statistics.

The document also restricts access to information about crude-processing volumes and the production of petroleum products at Russian refineries, as well as the plants’ plans for gasoline and diesel sales on an exchange. The actions add to limits that were imposed in the years after Russia’s full-scale invasion of Ukraine. The country’s Federal Statistics Service halted the publication of oil production and refined products output in 2023 and 2024 respectively.

Under the latest decree, which comes into effect immediately, the dissemination of exports and refining information is prohibited. There’s an exemption for companies to share information about their activities if they choose to do so. Putin signed the latest decree as part of Russia’s measures in response “to the unfriendly and internationally illegal actions of the United States” and foreign states and international organizations that allied with the US.

Since 2022, the US has imposed a number of sanctions against the Russian energy sector and its top four oil producers, as well as on some major liquefied natural gas projects. The government now needs to determine the exact list of goods that are subject to new restrictions within 10 days.