Finance
Turkey and Brazil top buyers of Russian diesel, LSEG data shows
Published by Global Banking & Finance Review®
Posted on January 13, 2025
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 13, 2025
2 min readLast updated: January 27, 2026
Turkey and Brazil are leading importers of Russian diesel, with increased ship-to-ship transfers due to EU bans and US sanctions.
MOSCOW (Reuters) - Turkey and Brazil remained the main importers of Russian seaborne diesel and gasoil last year amid the European Union's ban on imports of Russian refined products, data from market sources and LSEG showed.
Before the full EU embargo came into effect in February 2023, Europe was Russia's biggest buyer.
According to LSEG data, diesel and gasoil export supplies from the Russian ports to Turkey last year increased by a quarter from 2023 to 16.8 million metric tons.
Russian diesel exports to Brazil rose to 7.4 million tons in 2024, up by 15% from the previous year, shipping data showed.
Diesel and gasoil exports from the Russian ports to African countries exceeded 9.6 million tons lat year, but were down by 6% from 2023.
Egypt, Libya, Tunisia, Ghana and Senegal were among the top importers, according to LSEG data.
In December 2024, Russian diesel and gasoil export loadings increased almost by 18% from the previous month to 3.4 million tons on rising fuel production and seasonal slow demand in the domestic market, traders and shipping data showed.
Turkey and Brazil remain the main importers, totalling 1.2 million tons (-10% from November) and 0.53 million tons (+32% from November), respectively.
Meanwhile, traders report the increasing diesel volumes shipped via ship-to-ship (STS) transfers near the Italian port of Augusta and the Greek islands.
STS loadings have also become more attractive since recent Western sanctions on the tanker fleet, traders said.
In December, tankers carrying around 370,000 tons of Russian diesel were bound for ship-to-ship transfers. T+heir final destinations are as yet unknown.
Last week, the U.S. has imposed new Russia-related sanctions, targeting more than 180 vessels and insurance companies. That move could increase ship-to-ship operations, market sources added.
(Reporting by Moscow; editing by)
The article discusses the shift in Russian diesel exports, highlighting Turkey and Brazil as top importers amid EU bans.
Ship-to-ship transfers are rising due to Western sanctions on the tanker fleet, making them more attractive for Russian exports.
US sanctions on vessels and insurance may increase ship-to-ship operations for Russian diesel exports.
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