Brazil imports 135% more clean petroleum products from Russia.

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Brazil imports 135% more clean petroleum products from Russia.

Crude oil and clean and filthy petroleum products (CPP) have found new consumers since the European Union sanctioned Russian oil exports in 2022. Turkey and Brazil have emerged as the primary purchasers of CPP, while India and China have taken up most of the crude oil and filthy products. Brazil now imports 135% more Russian CPP than it did a year ago, according to BIMCO's Chief Shipping Analyst Niels Rasmussen.

Approximately half of Brazil's imports of CPP come from the US, which has historically been the country's primary CPP source. Since April 2023, Russia has been the main supplier and volumes from the US have declined by nearly 50% so far this year compared to the same period

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