Shipping Russian oil to India hits record $30 a barrel
Shipping Russian oil to India is now more expensive than ever, with freight rates hitting record highs in early October 2026.
Thanks to rising risks in the Black Sea and a continuing rally in the global tanker market, costs have jumped to around $30 a barrel.
A single Suezmax tanker trip from the Black Sea to India now runs up to $30 million, way up from last month's $19 million.
Price surge hurts Russia's eastbound exports
It's not just Russia-India routes feeling the pinch: global hydrocarbon shipping prices are climbing fast.
Trips from the Black Sea to the Mediterranean have nearly doubled since late September, and moving oil from Baltic ports to western India can cost up to $25 million a voyage.
For Russia, these soaring costs make it tougher (and less profitable) to send oil east via lengthy and costly export routes.