Russian diesel heads to Morocco as supply crunch grips global markets
Gulf countries and Russia together accounted for almost 45% of global seaborne diesel and gasoil trade before the Iran war.
A tanker carrying around 40,000 metric tons of Russian diesel is reportedly heading to Morocco after Moscow eased export restrictions, as high fuel prices weigh on consumers and governments seek relief from a global diesel shortage.
What happened: The tanker was reportedly heading toward the North African country after loading at Russia’s Baltic port of Primorsk on Oct. 13, Reuters reported Wednesday, citing London Stock Exchange Group shipping data. The report did not identify the vessel, buyer or intended Moroccan port.
Russia partially lifted its diesel export ban on Oct. 10 following an agreement between US President Donald Trump and Russian President Vladimir Putin to supply fuel to global markets.
Moscow introduced the ban on July 8 to protect domestic supplies after Ukrainian drone strikes damaged refineries, triggering shortages and price spikes. Initially set to expire on July 31, the restrictions were repeatedly extended through October before being partially lifted.
