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Made by hand in the USA for the firearms industry, the sleeve's based on USA cotton treated with oil and silicone. It wicks away moisture like crazy! There's no need to oil any carbon steel razor if always keep it in here; I've used it for a high carbon oldie that I never oil, and I live in a near-constant 70%+ relative humidity environment. Not a drop of rust anywhere in 2+ years. That's very impressive. In fact, the makers say to not oil that which is placed within, as this can seal moisture under a film of oil.
However - I'm more than happy to hear further advice on this. Perhaps just a pocket of terry towling, and a rubber band - to keep it safe?