Russian Diesel Returns: A New Atlantic Trade Dynamic
A new market development for tankers could be shaping up, after the latest agreement between US and Russia, regarding diesel exports across the Atlantic. In its latest weekly report, shipbroker Xclusiv said that “the…
According to Xclusiv, “interestingly, maritime trade in petroleum products between Russia and the US has diminished significantly following Russia’s invasion of Ukraine in February 2022, but has never completely disappeared. On 2020 and 2021 the seaborne trade of oil products from Russia to USA was around 23 million mt annually. Based on Signal Ocean data, during 2023, recorded shipments reached approximately 1.33 million mt, declining to 1.06 million mt in 2024, before recovering to 1.28 million mt in 2025. During January–June 2026, volumes totalled 510,000 mt, compared to 727,000 mt during the corresponding period of 2025, representing a contraction of almost 30%. July recorded no shipments, highlighting the weakening momentum before the latest diplomatic developments. These figures suggest that the announced reopening should be viewed not simply as the restoration of previously interrupted trade, but as a potential expansion and restructuring of existing flows, particularly concerning diesel”.
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