Investors and data: Russia begins exporting diesel to Saudi Arabia

Russia began exporting diesel to Saudi Arabia in February as it seeks to counter a European Union ban on Russian imports, traders said, Refinitiv data showed.

A blanket European Union embargo on Russian oil products took effect on Feb. 5, prompting Russian exporters to redirect shipments to Africa and Asia, as well as ship-to-ship loading.

Refinitiv data showed that at least three tankers carrying 190,000 tonnes of diesel were loaded at the Russian Baltic Sea port of Primorsk and are now on their way to Saudi Arabia.

The data showed that the tanker Sreni, carrying 66,000 tons of Russian diesel, is being unloaded at the port of Jeddah, Saudi Arabia, while the two tankers, Apanimo and Zaria, are heading to Ras Tanura.

Dealers said that Saudi Arabia, which exports large quantities of oil products, can re-export Russian diesel to other destinations after it is refined.