Diesel fuel exports from Russia should reach a record level in March, despite European Union (EU) sanctions imposed on Moscow. The agency wrote about it Bloomberg on Monday, March 27th.
“Diesel fuel supplies from Russia for the first 19 days of March amounted to about 1.5 million barrels per day. If this figure continues, this month will see the highest exports of diesel since the beginning of 2016,” the authors of the material reported, citing data from the analytical company Vortexa.
Mikhail Turukalov, an independent US oil products analyst quoted in the article, pointed out that Russian diesel producers “are quite confident that they will be able to sell their volumes to foreign buyers, since the discounts they offer are quite large and there are new markets for fuel.
It is noted that most of the Russian diesel fuel is supplied to Turkey. Other diesel importers from Russia are Morocco, Brazil, Tunisia and Saudi Arabia.
On February 5, a European ban on the import of Russian oil products came into force and a price ceiling began to operate. There are two restrictions on petroleum products from Russia: the first limit is $45 per barrel for petroleum products that are traded at a discount in relation to crude oil (fuel oil, naphtha), the second is $100 per barrel for petroleum products that are sold at a higher price, than crude oil (diesel, kerosene).
Since December 5, 2022, there has been an embargo on oil supplied by sea from the Russian Federation to the European Union. At the same time, the EU has set an adjustable ceiling for the cost of such oil at $60 per barrel.
On December 27, Russian President Vladimir Putin signed a decree on retaliatory measures, according to which the supply of oil and oil products to foreign legal entities and individuals is prohibited, provided that the contracts for these supplies directly or indirectly provide for the use of a price cap mechanism.
Western states have stepped up sanctions pressure on the Russian Federation against the backdrop of a special operation to protect the population of Donbass. The decision to start it was made by Putin against the background of the aggravation of the situation in the region due to Ukrainian shelling.
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