(Bloomberg) An oil tanker carrying Russian crude is now approaching the coastline of Brazil after 16 days of journey from a terminal in the Arctic sea.
The Aframax-class tanker Stratos Aurora is now about 500 miles from the Latin American country’s waters, according to ship tracking data compiled by Bloomberg. It loaded about 650,000 barrels from Murmansk on Aug. 22 and briefly showed destination of Madre De Deus, Brazil, before changing to Atlantic for order.
If the tanker discharges in Brazil, it would be the first time that Russian crude is being shipped to this South American country since at least 2016, the tracking data show.
Russia has had to move its crude oil to faraway markets from its traditional buyers in western countries following sanctions after its invasion of Ukraine. Most of its flagship Urals and Arctic grades are bought by refineries in Asia, especially India and China.
Although Brazil would represent a new market for Russian crude, the South American nation already boosted its imports of Russian fuel since February.
Crude from Russian Arctic terminals is normally shipped to storage facilities at Murmansk, where cargoes are consolidated for onward delivery.