Russia has begun exporting diesel products to the North African country of Sudan as the Eurasian country seeks new markets for its refined products after a European Union embargo.
According to Reuters, the full EU embargo on Russian oil products imposed in February 2023 has forced Russia to divert its refined products to other alternatives including Brazil, Turkey, countries in Africa, Asia, and the Middle East.
According to data from the London Stock Exchange Group (LSEG) two fuel tankers Pavo Rock and Conga delivered a total of about 70,000 metric tons of ultra-low Sulphur diesel to Sudan after it was loaded in February at the Russian Baltic port of Primorsk.
The Russian vessels were received in Sudan at the Port Sudan Al Khair Terminal on April 2 and April 5 respectively, shipping data shows.
Another Russian vessel — the Marabella Sun — loaded in March at the Russian Baltic port of Vysotsk is heading towards Port Sudan and will be offloaded on April 17 according to LSEG data.
Sudan needs about 45,000 barrels per day (bpd) about 6000 tonnes of diesel a day to meet local demands an analyst explained.
The North African country imports 60,000–70,000 metric tons of diesel a month, mainly from Saudi Arabia and the United Arab Emirates before Russia joined the fray.
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What To Know
- The European Union banned Russian oil products exports in its region to punish the country for its invasion of Ukraine depriving the country of revenue from its oil products exports. Russia in response diverted its exports to alternative destinations with Sudan being the latest.
- According to Statista, Russia’s oil and gas industry accounted for 16 percent of the country’s gross domestic product (GDP) between April and June 2023.
- Diesel arrivals in Sudan totalled about 116,000 metric tons in March according to LSEG data.
