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Russian diesel exports to Brazil, Türkiye soar after EU embargo, data shows
You won't believe who took the lead in importing Russian diesel! Yes, Brazil and Türkiye are now at the top of the list of buyers, taking advantage of the loophole left by the European Union embargo on Russian petroleum products.
Before the EU's full embargo, which came into force in February 2023, Europe was the largest buyer of Russian diesel. With the sanctions, the scenario changed drastically, and countries such as Brazil and Turkey began to occupy prominent positions in this market.
According to LSEG data
Russia sent about 1,07 million tons of low-sulfur diesel and gasoil to Turkey in September, surpassing the 1,04 million tons shipped in August.
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Russian diesel exports to Brazil rose last month to 780 tonnes, compared to 580 thousand tons in August.
Increasing volumes of Russian diesel heading for ship-to-ship transfers
Traders see rising volumes of Russian diesel heading for ship-to-ship transfers (STS) near the Italian port of Augusta and the Greek islands, totaling about 370 tonnes in September, up from 230 tonnes the previous month. Most of these cargoes are still underway, and their final destinations remain unknown.
Meanwhile, diesel exports from Russian ports to African countries have fallen last month to 440 tonnes, compared with 730 tonnes in August. Libya, Tunisia, Senegal and Egypt are among the top importers, according to shipping data.
In general, Russian diesel and gas oil exports rose by about 7% in September compared to August, reaching approximately 2,8 million tonnes, according to Reuters calculations based on LSEG data and market sources.
Brazil and Türkiye have stood out as the main buyers
Brazil and Türkiye have stood out as the main destinations for the Russian diesel, taking advantage of the opportunities that arose after the European embargo. This change in trade flows highlights the dynamics of the global energy market and the ability of countries to adapt to geopolitical changes.
Will this trend continue in the coming months? How will it impact the global energy market? Leave your opinion in the comments!
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