Russian Oil Product Flows to Africa Increase 14-Fold

Russian Oil Product Flows to Africa Increase 14-Fold
Russian Oil Product Flows to Africa Increase 14-Fold

Sanction-hit Russia's refined product exports to Africa have skyrocketed since the invasion of Ukraine, increasing 14-fold in just over a year, following a diplomatic onslaught on the continent by Russian officials.
Prior to the war, Russia exported 33,000 bpd of refined products to Africa, much of it gasoline, S&P Global Commodity Insights reported.
By March 2023, that had soared to 420,000 bpd. 
Illustrating the geopolitics at play, shipments to Nigeria, Tunisia and Libya jumped sharply in February, when the European Union placed an embargo on Russian products.
The embargo followed independent decisions from many Western countries to halt the imports of Russian oil. These sanctions have forced Russia to redirect significant oil export volumes to alternative markets, including Africa. 
India, China and Turkey are also becoming increasingly important export markets.
Experts say a new "scramble for Africa" has gathered pace since the invasion began early last year, with Russia, China, the US, Turkey, Persian Gulf states, and former colonial powers Britain and France all vying for influence on the world's fastest-growing continent.
Russia's Foreign Minister Sergei Lavrov visited seven African countries in the space of a month last year to firm up ties with key countries and open up new markets for Russian oil products, independent Russia analyst Timur Kulakhmetov told S&P Global Commodity Insights.
Meanwhile, Russian mercenaries with the Wagner Group have provided security for African rulers in return for lucrative mining contracts, and Russian energy companies have eyed investments on the continent. 

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