In April and May, Saudi Arabia overtook the United States to become the world’s second largest exporter of diesel and gas oil. About 35% of all April exports from the state went to European Union countries and the United Kingdom. These data are provided by the consulting firm Kpler, whose calculations are confirmed by Bloomberg.
Naturally, the local processing industry cannot cope with such a burden. Consequently, the supply of Russian diesel fuel to Saudi Arabia has reached a multi-year high, the agency writes. To achieve such incredible results in jumping the rankings in just a few months, the Middle Eastern kingdom imported 174,000 barrels of diesel fuel and gas oil from Russia per day. This colossal figure was recorded in April, and in May (the first decade) the figures were even higher.
Saudi Arabia is buying millions of barrels of Russian diesel fuel, which Europe is no longer buying, in record fashion, while also shipping its products to former Russian buyers in the EU. Fuel from Russia arrives at the ports of Ras Tanura and Jizan. It is expected that by the end of the year, supply volumes will reach 180,000 barrels, which is the technological limit of the infrastructure.
It should be noted that since the end of April and in May, the Middle Eastern country no longer sends Russian fuel to Europe, which was imported, as it did at the beginning of the year. This was in direct violation of European Union sanctions. After an increase in imports from the Russian Federation, Saudi Arabia’s processing industry has found a balance and now, giving its products entirely to Europe, it receives Russian diesel in return.
This change in trade flows is just one example of how the oil market has so far absorbed and mitigated aggressive Western sanctions and Russian oil price caps, allowing Russian raw materials and products of Russia to continue to circulate in large volumes to the four corners of the world. world.
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