Russian ultra-low-sulphur diesel (ULSD) diesel shipments to Brazil hit a record high in February, while Moscow is exploring new markets following the European Union ban, according to traders and Refinitiv data.
A full EU embargo on Russian oil products went into effect on Feb. 5, and Africa, Asia and ship-to ship (STS) loadings took market share of Russian diesel buyers instead of Europe.
According to Refinitiv, at least four cargoes carrying 140,000 tonnes of diesel were loaded in the Russian Baltic port of Primorsk in February and were now heading to Brazil.
Two more cargoes were loaded with 60,000 tonnes of diesel in the Russian Baltic port of Vysotsk and discharged in Brazilian ports.
In January, export diesel supplies from Russia to Brazil totalled about 96,000 tonnes, according to Refinitiv data.
Brazil is looking to buy as much diesel as it can from Russia, Brazilian Foreign Minister Carlos Franca said last year.