LONDON, Oct 20 (Reuters) - Russian diesel cargoes are returning to their traditional destinations after the US suspended sanctions and secured the lifting of an export ban, with at least two tankers signalling trips to Turkey and Brazil in recent days, according to shipping data from Kpler and LSEG.
Russia lifted its self-imposed ban on October 9 on diesel exports, introduced to tackle domestic shortages triggered by Ukrainian drone attacks on refineries, after striking a deal with US President Donald Trump to supply diesel to global markets.
The deal included a temporary lifting of US sanctions on Russian fuel supply, though EU and UK embargoes on Russian fuel imports remain in force.
Trump has set his sights on trying to calm diesel prices ahead of the midterm elections on November 3. Diesel is a key fuel used in industry, agriculture and transportation.
Usually the world's second-largest exporter of diesel after the United States, Russia had already reduced its exports in summer before imposing the export ban.
RUSSIAN DIESEL EXPORTS DOWN 41% THIS YEAR
Total Russian diesel exports were around 345,000 bpd over this year so far, down 41% from last year, the data show.
The tanker Leruo was signalling Manaus, Brazil, as its destination after departing from Russia's Baltic port of Primorsk on October 16, the data showed.
The tanker Dolunay, which departed Primorsk with a diesel cargo on October 14, is heading for Alanya, Turkey.
The two tankers are each carrying 300,000-barrel diesel cargoes, according to Kpler.
Morocco has also begun importing Russian diesel since the lifting of the export ban.
Turkey has received around 34% of Russian diesel loadings so far this year, Brazil 24% and Morocco 10%, according to Kpler data.
”With Russian supply returning, established trade routes are the most logical place for those barrels to go first. I would also expect Russia to prioritise customers that can absorb meaningful volumes quickly, rather than spend time developing new outlets when global diesel availability remains tight,” said Kpler’s head of geopolitical risk, Michelle Brouhard.
Turkish fuel suppliers have reduced purchases of diesel from domestic refineries in anticipation of receiving Russian exports, three sources familiar with the matter told Reuters.
Tupras and Socar, which operate Turkey’s major refineries, did not respond to a request for comment.
RUSSIA SAYS IT COULD RAISE DIESEL EXPORTS SHARPLY
Trump said Russia would immediately export 300,000 metric tons, or 2.25 million barrels, followed by 500,000 tons in November and 1 million tons "immediately thereafter".
Deputy Prime Minister Alexander Novak said last week that Russian exports could surpass the levels agreed with Trump, aiming for up to 3.5 million tons per month (875,000 bpd) by the end of the year.
The volumes Trump said Russia would supply are modest in comparison to the global shortfall, but at the levels Novak discussed, they would close most of the gap, Sparta Commodities analyst James Noel-Beswick said.
Prices of European benchmark diesel futures have not changed significantly since the deal, according to LSEG data, and were trading at an $80 premium to Brent crude on Tuesday. This was off all-time highs of almost $95 in late September, but still several times higher than a year ago.
Russian diesel loadings totalled around 210,000 tons, or 1.56 million barrels, over October 11-20, according to Kpler.
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