By Kyiv School of Economics Russian oil export revenues surged to $17.2bn in March 2024, driven by higher global oil prices and increased crude export volumes, according to the April ‘Russian Oil Tracker’ by KSE Institute. Despite robust US Treasury sanctions targeting the shadow fleet, Russia continues to expand it by incorporating new tankers, allowing for stable exports and further evasion of oil price cap. Russian seaborne oil exports rose by 4% in March, driven by a 12% increase in crude oil shipments (+400 kb/d), while exports of oil products declined by 6%. Notably, India saw a 3% incre…