Despite the sanctions imposed by the European Union, Russian diesel exports are reaching record levels.

Despite the European Union’s sanctions depriving Russia of its biggest markets, Russian diesel exports are expected to reach a record level this month.

Moscow has disregarded concerns that the recent ban on imports may force them to reduce their exports due to a lack of alternative buyers. Instead, Turkey, Morocco, and other countries have been intensifying their purchases despite some shipments from Russia being held in floating storage, as reported by Bloomberg and Arab News.

According to data collected by Vortexa Ltd and reported by Bloomberg, diesel fuel shipments from Russia amounted to approximately 1.5 million barrels per day in the first 19 days of March. If this rate is maintained, it would result in the highest exports for the month since early 2016.

An independent oil product analyst in the United States, Mikhail Torokalov, stated that operations at Russian refineries have remained high until March despite challenges. This has allowed for strong production of diesel fuel. Local producers seem confident in their ability to sell their products to foreign buyers as they offer deep discounts. New fuel markets have emerged.

However, the surge in shipments may not last. Loading plans for major Russian ports show a decrease in April compared to March schedules.

A substantial amount of Russian diesel exports are being shipped to Turkey. Other importers include Morocco, Brazil, Tunisia, and even Saudi Arabia, the largest source of oil.

However, there was also a significant increase in the amount of diesel fuel from Russia that had been held in floating storage since the beginning of the European Union import embargo – perhaps indicating that finding alternative customers is proving to be a challenge.