WSJ: North Africa buys up Russian oil products ‘insatiably’

The countries of North Africa became “insatiable” buyers of Russian oil products after Moscow was cut off from the European market, this trade cooperation became a “lifeline” for the Russian Federation, reported newspaper The Wall Street Journal.

European countries, WSJ reminds, accounted for 60% of Russian exports of petroleum products, but this winter new restrictions came into force: in February, along with price restrictions, the EU ban on the import of petroleum products began to operate, and in December an embargo on crude oil supplies was introduced. The sanctions worked and forced Moscow to redirect exports from Europe to alternative markets, the material says.

In particular, in Morocco, imports of Russian diesel fuel, which stood at about 600,000 barrels for all of 2021, rose to 2 million barrels in January. According to Kpler, which leads the publication, in February, at least another 1.2 million barrels are expected to enter the country. A similar situation, as noted, is developing in Algeria and Egypt.

In addition, Tunisia, which uses oil products for the production of chemicals and plastics, began to “absorb” Russian supplies. In January, the country received 2.8 million barrels of crude, and is expected to import another 3.1 million barrels in February.

“The increase in imports to Tunisia and Morocco coincided with an increase in their own exports of oil products, raising concerns that Russian cargoes are being mixed with other oil products and re-exported. This process obscures the final origin of the products and complicates the West’s efforts to remove Russian fossil fuels from its economy.

Russia after the entry into force of sanctions finds new markets for their oil products, Vedomosti wrote earlier. For example, Turkey in December-January increased imports of diesel and fuel oil from Russia to 320,000 barrels per day (he did not specify the dynamics). Of these, 200,000 barrels per day accounted for diesel fuel, which Turkey sends to the domestic market, while increasing the export of its own fuel.

Russia has also begun deliveries of petroleum products to Latin America (including Brazil) and North Africa. As a result, Morocco, Tunisia and Algeria began to buy Russian fuel and supply it to Europe in a mixture “with fuel of other origin”. In early February 2023, the EU officially allowed the use of such a scheme for the import of Russian oil products.