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Turkish Imports of Russian Diesel at Record Pace Feb

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Russia has increasingly been sending its sanctioned diesel barrels to Turkey post Feb 5 EU ban.

  • From Sept – Dec 2022, Russian diesel imports into Turkey rose for three consecutive months before dropping slightly in Jan 2023 and increasing by 24% in Feb 2023 m-o-m to reach a Vortexa data set high for this flow of 235 kbd.
  • Turkish imports of Indian diesel have dropped as a result, which have instead been diverted towards Europe as commodity flows reshuffle.
  • The excess volumes landing in Turkey are likely an interim solution for Russia as they seek consistent buyers in Brazil and East of Suez markets.

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Russia has increasingly been sending its sanctioned diesel barrels to Turkey post Feb 5 EU ban.

  • From Sept – Dec 2022, Russian diesel imports into Turkey rose for three consecutive months before dropping slightly in Jan 2023 and increasing by 24% in Feb 2023 m-o-m to reach a Vortexa data set high for this flow of 235 kbd.
  • Turkish imports of Indian diesel have dropped as a result, which have instead been diverted towards Europe as commodity flows reshuffle.
  • The excess volumes landing in Turkey are likely an interim solution for Russia as they seek consistent buyers in Brazil and East of Suez markets.

Keep reading...Show less