LONDON, November 21. /TASS/. Traders from the European Union are proactively buying Russian diesel fuel before the EU ban on Russian petroleum products will come into force in February 2023, Reuters news agency said on Monday.
Supplies from Russia accounted for 44% of total diesel fuel import by the EU in November 2022, compared to 39% in October, Reuters said.
"Russian diesel loadings destined for the Amsterdam-Rotterdam-Antwerp (ARA) storage region" moved up to 215,000 barrels daily from November 1 to 12, up by 126% from October, senior market analyst at energy analytics firm Vortexa Pamela Munger said.
"The EU will have to secure around 500-600 thousand barrels per day of diesel to replace the Russian volumes, replacements will come from the US as well as east of Suez, primarily the Middle East and India," Eugene Lindell, refining and products market analyst at FGE, said.
The EU Council approved the sixth package of sanctions against Russia on June 3, including the delayed ban on seaborne supplies of Russian petroleum products until February 2023.