Russian diesel returns to Turkey, Brazil after export ban lifted
USO•Russian diesel cargoes are returning to Turkey and Brazil after Russia lifted its export ban on October 9 and the United States temporarily lifted sanctions on Russian fuel supply. Exports averaged 345,000 barrels per day so far this year, down 41% from last year.
1. Cargoes return to trade routes
At least two tankers carrying Russian diesel have recently signalled destinations in Turkey and Brazil. The Leruo departed Primorsk on October 16 for Manaus, Brazil, while the Dolunay left the same port on October 14 for Alanya, Turkey; each carries 300,000 barrels, according to Kpler.
2. Exports and destinations
Russia lifted its self-imposed diesel export ban on October 9 after imposing it to address domestic shortages triggered by Ukrainian drone attacks on refineries. Russian diesel exports averaged about 345,000 barrels per day so far this year, down 41% from last year. Turkey received around 34% of Russian diesel loadings this year, Brazil 24% and Morocco 10%; Morocco has also begun importing Russian diesel since the ban was lifted.
3. Potential supply increase
Donald Trump said Russia would immediately export 300,000 metric tons, followed by 500,000 tons in November and 1 million tons afterward. Deputy Prime Minister Alexander Novak said Russian exports could reach up to 3.5 million tons per month by year-end. Russian diesel loadings totalled around 210,000 tons from October 11 to 20.
