Shipping data shows that Indian diesel exports to West Africa have reached a record high as the European Union bans fuel made using Russian crude oil.
At the same time, Turkey’s diesel export to the EU has slowed over the past few months.
Both countries have until recently bought large quantities of discounted Russian crude, refined it into diesel, and then exported the fuel to Europe.
But under the EU’s new rule, a refinery must not have processed any oil from Russia in the 60 days before a cargo is loaded in order to qualify for export to the bloc.
The move, which is reordering global oil flows, is part of Europe’s policy aimed at punishing Moscow over its full-scale invasion of Ukraine in 2022.
Brussels said this closes a loophole allowing products made using Russia crude to enter the EU if they were processed in a third country.
India was the third biggest diesel exporter to the bloc and this change has forced its oil refineries to seek new markets.
