Commodities
Russian Fuel Oil Flows Set for Highest Since Ukraine War Began
- Flows of Russian fuel oil on track for most since Feb. 2022
- High exports may signal elevated secondary refinery unit works
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Fuel oil exports from Russia are on track to jump in September to the highest since Vladimir Putin’s invasion of Ukraine in February 2022.
Russia is one of the top exporter of fuel oil, often used in ships, power plants and for reprocessing at refineries. The nation’s seaborne flows plummeted soon after the US banned Russian imports in the wake of the invasion. The European Union subsequently declared an embargo on seaborne imports of Russian fuels from February of last year.