Brazil and Turkey Surprise by Leading Russian Diesel Purchases Following European Union Ban

Written by Bruno Teles

Published on 08/10/2024 at 14:56

Brasil é um dos maiores compradores de diesel da Rússia (Imagem: Representação)

Uma pessoa reagiu a isso.

Russian Diesel Exports to Brazil and Turkey Soar After European Embargo, Data Shows

You won’t believe who has taken the lead in importing Russian diesel! Yes, Brazil and Turkey are now at the top of the buyer list, capitalizing on the gap left by the European Union’s embargo on Russian petroleum products.

Before the total EU embargo, which came into effect in February 2023, Europe was the largest buyer of Russian diesel. With the sanctions, the scenario has changed drastically, and countries like Brazil and Turkey have risen to prominence in this market.

According to Data from LSEG

Russia sent about 1.07 million tons of low-sulfur diesel and gasoil to Turkey in September, exceeding the 1.04 million tons sent in August.

ARTICLE CONTINUES BELOW

Rising Volumes of Russian Diesel Heading Towards Ship-to-Ship Transfers

Traders are observing rising volumes of Russian diesel heading towards ship-to-ship (STS) transfers near the Italian port of Augusta and the Greek islands, totaling around 370,000 tons in September, up from 230,000 tons the previous month. Most of these cargos are still in progress, and their final destinations remain unknown.

Meanwhile, exports of diesel from Russian ports to African countries fell last month to 440,000 tons, compared to 730,000 tons in August. Libya, Tunisia, Senegal, and Egypt are among the main importers, according to shipping data.

Overall, Russian diesel and gasoil exports rose in September by about 7% compared to August, reaching approximately 2.8 million tons, according to calculations by Reuters based on LSEG data and market sources.

Brazil and Turkey Stand Out as Main Buyers

Brazil and Turkey have stood out as key destinations for Russian diesel, taking advantage of the opportunities that arose after the European embargo. This shift in trade flow highlights the dynamics of the global energy market and the countries’ ability to adapt to geopolitical changes.

Will this trend continue in the coming months? How will this impact the global energy market? Share your thoughts in the comments!

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Brazil and Turkey Surprise by Leading Russian Diesel Purchases Following European Union Ban

Russian Diesel Exports to Brazil and Turkey Soar After European Embargo, Data Shows

According to Data from LSEG

Rising Volumes of Russian Diesel Heading Towards Ship-to-Ship Transfers

Brazil and Turkey Stand Out as Main Buyers

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Brazil and Turkey Surprise by Leading Russian Diesel Purchases Following European Union Ban

Russian Diesel Exports to Brazil and Turkey Soar After European Embargo, Data Shows

According to Data from LSEG

Rising Volumes of Russian Diesel Heading Towards Ship-to-Ship Transfers

Brazil and Turkey Stand Out as Main Buyers

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