Russia’s diesel and gasoil exports by sea increased by 5% in July compared to June as more refining capacity in Russia returned from seasonal maintenance, Reuters reported on Tuesday, citing data from trade sources and vessel tracking. Turkey, North Africa, Brazil, and the Middle East are now the key markets for Russia’s seaborne diesel exports after the EU imposed an embargo on those imports on February 5. Around 1 million barrels per day (bpd) of Russian diesel, naphtha, and other fuels are needed to find a home elsewhere after the embargo – and it appears that they have. Earlier this year, North Africa became a key export outlet of Russia’s diesel and other petroleum products after the EU embargo on imports of Russian fuels took effect in early February. African countries in the Mediterranean, as well as Turkey, had started taking in more Russian fuels even before the Western ban.

Source: The North Africa Journal August 01, 2023 13:10 UTC