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Saudi Arabia imports diesel from Russia and supplies its own production to Europe

29 May 2023
General Interest

Saudi Arabia imports millions of barrels of Russian diesel that Europe no longer wants and simultaneously sends its own diesel production to the EU, reports Bloomberg.

Data from analyst firm Kpler showed Saudi Arabia imported 174,000 barrels of diesel per day from Russia in April, the highest level since 2017, and imports continued to rise in May. At the same time, Saudi Arabia has become Europe’s main supplier of diesel, overtaking Russia since February.

The Middle Eastern country does not send Europe the same fuels it imports from Russia, because that would be a violation of the sanctions imposed by the European Union. According to a source close to this file, the increase in diesel imports of the Saudi kingdom is related to the maintenance works at its refineries, according to Agerpres.

According to Kpler, Saudi Arabia overtook the US and became the world’s second largest diesel exporter last month. Approximately 35% of the total exports made by Saudi Arabia in April went to countries in the European Union and Great Britain. Most of these deliveries came from the ports of Jubail and Yanbu in Saudi Arabia. Some of the deliveries also went to Africa. In contrast, diesel from Russia arrived in the Saudi kingdom through the ports of Ras Tanura and Jizan.

Saudi Arabia’s diesel imports are expected to rise from an average of 31,500 barrels per day in 2022 to an average of 150,000 barrels per day for the rest of this year, estimates Iman Nasseri, director at consultancy FGE.

These trade flows are another example of how the oil market has so far absorbed aggressive Western sanctions, including a price cap on Russian oil sales, allowing Russian crude and fuels to continue to flow. on the market in large quantities.

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