Saudi Arabia is importing millions of barrels of Russian diesel, which Europe no longer needs, and at the same time sending its own diesel fuel to the EU, Bloomberg reports.

Data from analyst firm Kpler showed Saudi Arabia imported 174,000 barrels of diesel from Russia in April, the highest level since 2017, and imports continued to rise in May.

At the same time, Saudi Arabia became the main supplier of diesel to Europe, overtaking Russia in February.

The Middle Eastern country does not send the same fuel to Europe that it imports from Russia, as this would be a violation of sanctions imposed by the European Union.

According to a source close to the file, the increase in diesel imports by the Kingdom of Saudi Arabia is due to maintenance work at its refineries.

Saudi Arabia, the world’s second exporter of diesel fuel

Last month, Saudi Arabia overtook the United States to become the world’s second largest diesel exporter, according to Kpler. About 35% of Saudi Arabia’s total exports in April went to the European Union and Great Britain. Most of these shipments came from the ports of Jubail and Yanbu in Saudi Arabia.

Part of the supplies also went to Africa. Instead, diesel from Russia entered the Kingdom of Saudi Arabia through the ports of Ras Tanura and Jizan.

Saudi Arabia’s diesel imports are expected to rise from an average of 31,500 bpd in 2022 to an average of 150,000 bpd by the end of this year, estimates Iman Nasseri, director of consultancy FGE.

These trade flows are yet another example of how the oil market has so far absorbed aggressive Western sanctions, including price caps on Russian oil sales, which have allowed Russian crude and fuel to continue to enter the market in large quantities. (Agerpres) (photo source DreamsTime)

Follow the latest events of the 457th day of the war in Ukraine LIVETEXT on HOTNEWS.RO.