Russia boosts gasoline exports to Africa by almost 50%

That's according to Reuters, Ukrinform reports.

Russia has stepped up supplies of motor fuel to African countries such as Nigeria, Tunisia, and Libya after the EU imposed sanctions on Russian oil.

The price cap on Russian gasoline at $100 per barrel imposed by the Group of Seven (G7), the EU, and Australia has forced Moscow to look for new markets.

Russia's efforts to boost gasoline sales to Africa have also been aided by a decline in exports from the Netherlands. In European county, new regulations came into place on April 1 requiring fuel blends for export markets to meet standards for sulfur, benzene, and manganese.

Between January and March 2023, Russia exported 1.9 million tonnes of gasoline. In the first quarter of last year, exports amounted to 1.3 million tonnes.

According to other data, Russia's fuel exports in January-March this year were at 2.2 million tonnes, while in 2022, the figures for the same period were 1.5 million tonnes.

As Ukrinform reported earlier, Chinese exports to Russia in March more than doubled against last year.