27.Mar .2023 16:26

Russia’s diesel sales to Brazil, Türkiye, Africa seen at new high

Russia’s diesel sales to Brazil, Türkiye, Africa seen at new high
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Russia is set to achieve new record highs for diesel and gasoil exports to Brazil, Türkiye and Africa in March, according to traders and Refinitiv data, as traders seek new markets following the European Union's ban on Russian oil products.

A full EU embargo on Russian oil products went into effect on Feb. 5, sending Russian diesel cargoes to Africa, Asia, the Middle East and ship-to-ship (STS) loadings instead of to Europe.

According to Refinitiv data, diesel and gasoil shipments from Russian Baltic and Black Seas ports to Türkiye have already exceeded 1.2 million tons in March, topping the 0.8 million tons recorded the month earlier.

Russian Baltic ports have sent at least 300,000 tons of diesel to Brazil this month, more than the 205,000 tons for all of February, the figures showed.

And Russia has also increased diesel supplies to African countries, market sources added.

"Africa will apparently take significant volumes (of Russian diesel)," one trader said.

According to Refinitiv data for March, about 200,000 tons of diesel from Russian-controlled ports were shipped to Libya, about 165,000 tons to Algeria and 100,000 tons to Tunisia. Other recipients included Nigeria, Ghana, Senegal and Morocco.

About 200,000 tons of diesel from Russian ports are due to reach Fujairah in the United Arab Emirates (UAE) this month, the data showed.

Last month Russia sent at least 450,000 tons of diesel to Saudi Arabia, including some shipped via STS near Kalamata port in Greece – though no such cargoes have been recorded on this route so far in March.

Records for about 0.7 million tons of diesel loaded in March in Russian Black and Baltic Seas ports gave no specific destination, according to Refinitiv data, Daily Sabah reports.