South Korea fuel cargoes reach Russia in rare late-July trade

Nearly 30,000 metric tons of refined fuels loaded in South Korea during late July were shipped to Russia, according to vessel tracking data and a trade source. The unusual cargo movement comes as Ukrainian attacks on Russian energy infrastructure have increased Moscow's need for imported fuel.

At least two short-range tankers took on fuel products at the Ulsan container port and sailed for Russia's Far East, ship tracking data from Kpler and Vortexa showed. One vessel has already arrived in Russian waters but has not yet discharged its cargo, according to Kpler and a trade source.

Two people familiar with the shipments said the cargo includes diesel, with one adding that jet fuel is also part of the load. South Korea's trade ministry declined to comment, and Russia's energy ministry did not respond to requests for comment.

Moscow has extended its export ban on diesel and gasoline until January, though some restrictions are set to ease from September 1. Russia is normally a net exporter of diesel, with most shipments since the 2022 invasion of Ukraine going to Brazil, Turkey, and West Africa.

A separate plan to ship jet fuel from Japan via South Korea to Russia, reported last month, did not materialise, multiple trade sources later said. Japan subsequently clarified that its ban on jet fuel exports to Russia covers shipments through third countries or transfers at sea.

The last known similar shipment from Northeast Asia to Russia was 22,000 barrels of jet fuel from Yeosu, South Korea, in February 2022, delivered to Vladivostok, according to Kpler data.