Since the beginning of the full-scale invasion of Ukraine, Russia has been increasing the volume of oil products supplied to the Middle East every month. It is mainly fuel oil, to a lesser extent — gasoline, aviation and diesel fuel.
Bloomberg writes about it.
June brought extraordinary results to Russia. Exports reached a record high of 155,000 barrels per day since 2016. Analysts expect that for July the indicator will be higher — 220 thousand barrels per day.
About a third of all supplies go to the oil terminal in the port of Fujairah (UAE). It is difficult to say where oil products go next, since they can mix during loading into tanks, which makes it difficult to determine their origin. Because of this, the possibility of supplying Russian fuel to the EU or the USA by the countries of the Middle East is not excluded. They can say itʼs their fuel.
Despite this, the increase in the volume of supplies to the Middle East cannot compensate for the decrease in European imports, which after the beginning of the war decreased by more than half a million barrels per day.
- Against the background of the war, the USA and the EU gave up Russian fuel, but in stages. In the EU, half a year is allocated to abandon oil and up to eight months to abandon oil products. The supply of oil through pipelines was not subject to sanctions.