Russian exports: going east. File Image / Pixabay.
Russia is exporting more fuel oil to Asia and using ship-to-ship transfers to build larger cargoes for distant markets following the imposition of sanctions on the country by the European Union.
The EU has been reducing imports of Russian oil products since March and has agreed a full ban from February 2023, Reuters reports.
In August, fuel oil exports from Russia to the Netherlands and Estonia fell to zero from 365,000 metric tonnes and 170,000 mt, respectively, in July, the report said citing Refinitiv data.
Fuel oil shipments from Russian ports to Singapore could top 350,000 mt this month, after no shipments in June or July, according to the data, while exports for ship-to-shiploading off Greece’s Kalamata port have risen by a quarter month-on-month to almost 1 million mt.