Russia has intensified fuel supplies to Morocco, in an attempt to bypass the European Union embargo on the country’s exports, reports international news agency Reuters.
Data from Refinitiv showed that fuel exports from Russian ports to Morocco increased to 735,000 tons in 2022, after only 66,000 tons in the previous year, with a total of about 140,000 tons since the beginning of 2023.
Shipments to Turkey increased in December 2022 to more than 750,000 tons, with a total of 5.05 million tons in 2022, compared to 3.99 million tons in 2021.
Numerous shipments were also supplied from Russia to Ghana, Senegal, Libya and even Uruguay and Côte d’Ivoire, according to Refinitiv.
The European Union has agreed to a complete ban on imports of Russian oil products from February 2023, in an effort to reduce Russia’s revenue for its role in the military conflict with Ukraine.
Alexander Novak, Russia’s deputy prime minister said Russia would divert its supplies to Asia, Africa and Latin America.
Meanwhile, Europe still imports the bulk of Russia’s fuel, filling tanks ahead of the February 5 deadline.
Not only will the EU embargo affect the diversion of Russian fuel supplies; It will also affect price caps, which the Group of Seven (G7) alliance plans to impose.
The Russian Deputy Prime Minister said that the European Union’s ban on Russian oil products may lead to higher prices of oil products in Europe.
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