KSE Institute
Kyiv-based think tank publishing the Russian Oil Tracker and Shadow Fleet monthly data since 2022.
Last refreshed: 18 May 2026 · Appears in 1 active topic
What does KSE's shadow fleet data reveal that official sanctions stats miss?
Timeline for KSE Institute
Published April 2026 tracker showing Urals at $76 and Russian-flagged shadow fleet share at 21%
European Oil Markets: Mentioned in: GL 134B dies, Urals $28 over the capPublished April 2026 shadow-fleet tracker showing Russian-flag share rise to 21%
European Oil Markets: Russian-flag shadow fleet share hits 21%- What is the KSE Russian Oil Tracker and how is it used?
- The KSE Russian Oil Tracker is a monthly dataset from the Kyiv School of Economics Institute estimating Russian oil export revenues and the volume of above-cap Urals sales. It is cited by EU, G7, and OFAC enforcement teams in price-cap compliance assessments.Source: KSE Institute
- How many shadow-fleet tankers did KSE track in March 2026?
- KSE Institute's April 2026 shadow fleet Tracker recorded 194 shadow-fleet tanker movements in March 2026, with Russian-flag vessels accounting for 21% of the total — a new high in that share.Source: KSE Institute Shadow Fleet Tracker
- Who funds the Kyiv School of Economics Institute?
- KSE Institute is funded by a combination of Western foundations, EU instruments, and bilateral government grants. Its editorial stance explicitly supports Russian revenue constraint as a policy objective.
- How do sanctions desks use KSE shadow fleet data?
- Insurers, P&I clubs, and sanctions screeners use KSE's vessel registry to flag high-risk counterparties in Urals trade chains. OFAC enforcement teams have cited the dataset in enforcement communications.Source: KSE Institute
Background
The Kyiv School of Economics Institute (KSE Institute) is the research Arm of the Kyiv School of Economics, founded in 2020 under the strategic direction of former Ukrainian Finance Minister Tymofiy Mylovanov. Funded by Western foundations, EU instruments, and bilateral government grants, it publishes peer-reviewed economic research on Ukraine's war economy, Russian revenue denial, and sanctions effectiveness. Its editorial stance explicitly supports Russian revenue constraint as a policy objective.
KSE Institute tracked 194 shadow-fleet tanker movements in March 2026, with Russian-flag vessels' share rising to 21% of the total — data cited by the OFAC enforcement community in the same fortnight as the GL 134B expiry. The Institute's Russian Oil Tracker (monthly, lead analysts Benjamin Hilgenstock and Vladyslav Vlasiuk) and shadow fleet Tracker (April 2026 issue) are the primary public datasets quantifying Russian oil export revenues and the grey-fleet tonnage enabling above-cap Urals sales.
For European oil desks, the KSE monthly datasets are operationally significant: the Russian Oil Tracker's export revenue estimates feed directly into price-cap compliance assessments, and the shadow fleet Tracker's vessel registry is used by insurers, P&I clubs, and sanctions screeners to flag high-risk counterparties in Urals trade chains.
