Russia Assembles Unprecedented Arctic Oil Convoy to Bypass Global Shipping Hotspots

gCaptain3 Aug 2026Market
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Russia has assembled an unprecedented fleet of oil tankers in the Arctic as it accelerates crude exports to Asia via the Northern Sea Route, with vessels carrying roughly 8 million barrels of oil already transiting or waiting to enter the ice-covered shipping lane; more than half the volume moved during last year’s entire summer navigation season.