Rosneft cuts diesel exports from key Russian port to zero

div classBodysc17zpet90 cdBBJodivpReuters – Russian oil giant Rosneft is not scheduled to export any diesel from the Baltic port of Primorsk in May as its main buyer, Swissbased trading house Trafigura, scales back Russian oil purchases, trading sources said on Friday.p

pExports of Russian diesel from Primorsk, a key supply source for Europe, are set to drop by over 30 in May from a month earlier to 1.114 million tonnes, data from traders showed on Friday.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pKremlincontrolled Rosneft has been one of the largest exporters of diesel from Primorsk, but the company had so far not planned to load any vessels in May, according to the data. p

pTrafigura was last year awarded a tender to buy all of Rosnefts diesel exports from Primorsk in 2022.p

pA source familiar with the matter said however that Trafigura would cut its buying of refined oil products from Rosneft by more than 80 as the trading house scales back purchases following Moscows invasion of Ukraine.p

pRosneft did not respond to a request for comment. Trafigura declined to comment.p

pAlthough European Union sanctions have so far avoided targeting oil from Russia, its biggest supplier, many traders are expected to cut back buying sharply ahead of an EU May 15 deadline restricting oil purchases from major Russian oil producers to the amount “strictly necessary” for Europes energy security, traders said. p

pEuropean diesel imports from Russia are set to fall in April but will still exceed those from other regions, highlighting the challenge European governments face as they contemplate new sanctions on Russian oil.p

pAs EU officials prepare a sixth package of sanctions against Russia, they are assessing the costs of replacing Russian oil with imports from other suppliers.p

pEurope is the destination for nearly half of Russias crude and petroleum product exports, according to the International Energy Agency IEA.