The embargo followed independent decisions from many Western countries to halt imports of Russian oil. Perhaps the clearest evidence of strengthened ties is in Russian refined product exports since an EU embargo on imports of most Russian oil products came into force Feb. 5. Although Russian refined product flows dipped slightly after the February 2022 invasion, they reached a seven-year high of 1.9 million b/d in March 2023. "Therefore, North African states are playing a significant role for Russia in mitigating implications of oil and oil product ban." At the heart of the new flows is Litasco, the Geneva-based trading arm of Russian oil company Lukoil, which has been active in Africa for decades.

Source: The North Africa Journal July 04, 2023 20:34 UTC