What is CREA and what do they research?: CREA (Centre for Research on Energy and Clean Air) is a Finnish independent research organisation that tracks fossil fuel revenues, energy trade flows, and emissions. It is the leading independent monitor of Russian energy export revenues since 2022.
How much has Russia's oil exports dropped in 2026?: Ukrainian drone strikes on Ust-Luga and Primorsk Baltic terminals between 22 and 31 March 2026 collapsed Russian seaborne crude exports from 4.07 million bpd to 2.32 million bpd, a 43% single-week drop.Source: CREA-methodology tracking data
How does CREA track Russian oil revenues?: CREA uses satellite imagery, port traffic tracking, and customs filings to monitor Russian fossil fuel export volumes and revenues. It publishes open reports available to policymakers and journalists.
What is Russia's shadow fleet?: Russia's shadow fleet is a network of tankers operating under obscure ownership to circumvent Western oil price caps and sanctions. CREA tracks these vessels using satellite imagery and shipping data.Source: CREA
How much money has Russia spent on the Ukraine war in 2026?: Russia's 2026 federal budget allocated 16.8 trillion roubles to defence and security, representing 38-40% of all federal spending. Russia's National Wealth Fund shed EUR 400 billion roubles ($4.8bn) in January and February 2026 alone.Source: SIPRI / Russia's National Wealth Fund
Is CREA reliable for tracking Russian sanctions evasion?: CREA is widely cited by European governments, the EU, and major news organisations. Its methodology is transparent and based on primary data sources. It has no commercial interests in the energy sector.

Background

The Centre for Research on Energy and Clean Air (CREA) is a Finnish independent research organisation that produces widely cited analysis on fossil fuel revenues, energy trade flows, and emissions. Founded in Helsinki, it has become the go-to quantitative source for tracking Russian energy export revenues since Russia's full invasion of Ukraine in 2022, regularly providing data that underpins European sanctions debates and legislative processes.

CREA's analysis has been particularly consequential in documenting Russia's shadow fleet operations and Baltic oil terminal traffic. Ukrainian drone strikes on the Ust-Luga and Primorsk Baltic oil terminals between 22 and 31 March 2026 collapsed weekly Russian seaborne crude exports from 4.07 million bpd to 2.32 million bpd, a 43% single-week drop and the steepest decline in modern Russian export history, according to tracking data consistent with CREA's methodology. The organisation has also tracked the broader fiscal impact of the war on Russia, including the EUR 400 billion roubles ($4.8bn) drawn down from Russia's National Wealth Fund in January and February 2026.

CREA's credibility rests on transparent methodology and primary data sources including satellite imagery, port tracking, and customs filings. It publishes open reports available to policymakers, journalists, and civil society. Its work on the Russian shadow fleet has directly informed EU sanctions packages targeting specific vessels and operators.

How the World Sees Them

Russia

Moscow does not recognise CREA's figures and disputes Western characterisations of its export revenues. Russian state media does not cite the organisation.

Ukraine

Kyiv and its allies use CREA data to argue that sanctions are insufficient and that oil revenues continue funding the war. The March 2026 export collapse validates the drone strike strategy.

European policymakers

CREA's data underpins EU sanctions packages. Its tracking of shadow fleet routes has led to specific vessel designations and port access restrictions.