Turkey and Morocco will become Moscow’s best clients after the EU ban comes into effect. for the import of fuel from Russia. This is evidenced by data published by the oil and gas information and execution platform Vortexa and collected by Bloomberg. In December, Turkey imported 213,000 barrels per day of Russian diesel fuel, the highest level of Russian fuel imports recorded in the neighboring country since at least early 2016. Russian fuel flows are expected to reach the second-highest level on record in January, while Moroccan imports are on the rise at the same time.

In just four days, the EU will end all fuel purchases from Russia, extending the Dec. 5 ban. In anticipation of a complete ban, fuel traders are concerned that Russia still exports the lion’s share of diesel fuel to Europe, while the bulk of supplies to Europe come from Russia. However, the increased flows of diesel fuel to Turkey and Morocco give an idea of ​​the market in which Russian diesel fuel will be sold. Meanwhile, Turkey is now exporting more diesel to Europe, and Morocco appears to have stopped buying fuel from Spain. These two events combined seem to provide enough fuel for the European Union. At the same time, Saudi Arabia also exports less diesel fuel to Morocco. There is nothing illegal in any of the aforementioned deals, and nothing will be illegal once the EU ban goes into effect, industry analysts point out.

In December, Turkey imported 213,000 barrels of Russian diesel per day, the highest level of imports since early 2016.

However, the EU was drafted along with the G7 decision to set a price ceiling for Russian fuel and, more generally, the prices that anyone who tries to charter European tankers or use European insurance companies and European specifications for transportation of Russian hydrocarbons to third countries. However, according to Bloomberg estimates, for now, imports of Russian fuel from Morocco and Turkey are not enough to offset the huge drop in demand that Russia will have to face after Europe completely stops importing it.

However, even in January, 25% of EU diesel imports came from Russia, about 612,000 barrels per day. After all, for Russia, the European Union was the market that absorbed roughly 41% of its exports in January. However, Turkey and Morocco are two prime examples of markets that will absorb Russian fuel and thus keep it flowing on the world market. In short, they will essentially serve the purpose of both the EU and Washington, which, by setting a price ceiling, sought to hit Russia’s revenues, but not exclude Russian hydrocarbons from the world market.