Russia boosts diesel exports to Latin America since EU embargo

Russia has increased its diesel exports to Brazil and other parts of Latin America following an embargo on shipments to Europe, traders said and Refinitiv Eikon data showed.

Russia has long been the main diesel supplier for Europe, where refineries do not produce enough fuel to meet domestic demand for diesel cars. But a full EU embargo on Russian oil products since Feb. 5 has diverted Russian diesel exports to Asia, Africa, the Middle East and STS loadings.

Last month, Russia also sent more than 580,000 tonnes to Latin and South America, with almost 440,000 tonnes of those volumes heading to Brazil, another 140,000 tonnes are destined to Panama, Uruguay and Cuba, Refinitiv data showed.

In total, diesel supplies from Russia-controlled ports to Brazil totalled 663,000 tonnes in January-March, 2023 after 74,000 tonnes for the whole 2022, according to Refinitiv data.

At least one diesel cargo from Russia was shipped from one tanker to another near the port of Lomé in Togo last month and was then headed for South America, possibly Brazil, according to Refinitiv Eikon data.

Source: Reuters

To read the original news report, click on: https://www.reuters.com/article/russia-export-products-flows-diesel/russia-boosts-diesel-exports-to-latin-america-since-eu-embargo-idUSL8N36D1L9

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