CREA
Finnish research organisation tracking Russian fossil fuel revenues and sanctions evasion since 2022.
Last refreshed: 15 April 2026 · Appears in 2 active topics
Is the 25 April Russian LNG ban actually enforceable, and what does CREA's tracking show?
Timeline for CREA
Mentioned in: Treasury kills $150M-a-day Russian oil waiver
Russia-Ukraine War 2026Mentioned in: Russian LNG ban lands 25 April, no replacement named
European Energy MarketsIran War Hands Russia an Unexpected Oil Windfall
Russia-Ukraine War 2026Mentioned in: Baltic strikes cut Russian oil by 43%
Russia-Ukraine War 2026Mentioned in: Zelenskyy signs Gulf security deals
Russia-Ukraine War 2026- 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
- Will the EU ban on Russian LNG actually work?
- CREA argues the 25 April short-term contract ban is more enforceable than the March transshipment ban because it blocks Russian LNG at the EU border. The transshipment ban did not substantially reduce inbound EU volumes.Source: CREA
- 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 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.
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.
In the European energy markets context, CREA's analytical framework is directly relevant to the Russian LNG short-term contract ban entering force on 25 April 2026. CREA argues that the ban is more enforceable than market-based measures because it is the first instrument that actually blocks Russian LNG at the EU border, in contrast to the 27 March transshipment ban which did not substantially reduce inbound EU volumes. CREA's methodology also supports the front-loading observation in the Bruegel dataset, which showed record EU LNG imports including Russian volumes in March 2026 ahead of the deadline, consistent with procurement desks racing the clock rather than diversifying supply.
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.
