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27 May, 2023 10:28

Saudi Arabia buying up millions of barrels of Russian diesel – data

Meanwhile, supplies of the fuel from Riyadh are being sent to the EU
Saudi Arabia buying up millions of barrels of Russian diesel – data

Saudi Arabia imported 174,000 barrels of diesel and gasoil a day from Russia in April, Bloomberg reported earlier this week, citing data from analytics firm Kpler.

Thу figure comes in contrast to 137,700 barrels per day recorded in the previous month. Imports kept rising in May, and amounted to 191,200 barrels a day in the first two weeks of the month alone, marking a record high since 2017.

At the same time, the Middle East nation emerged as the European Union’s number one supplier, leapfrogging Russia since February. The kingdom, however, is reportedly not reselling the diesel and gasoil that it receives from Russia, as such a move would be considered a breach of sanctions imposed by the bloc on Moscow over its military operation in Ukraine.   

According to sources familiar with the matter who spoke to Bloomberg, the latest upsurge in production at the kingdom’s refineries was responsible for the increase in imports to the EU.

The unnamed sources also told the news agency that additional exported fuels, which came from different parts of the country, were made to different specifications and were often subject to long-term supply commitments.

The data tracked by Kpler also shows that Saudi Arabia outpaced the US to become the world’s second-biggest exporter of diesel and gasoil last month. Nearly 35% of the kingdom’s overall April exports were reportedly shipped to EU member states and the UK. Meanwhile, sanctions-hit Russia remains the number one seller of the fuel.

For more stories on economy & finance visit RT's business section

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