Tankers carrying Russian diesel are turning back en route to Brazil due to a spike in prices

Two tankers carrying Russian diesel fuel to Brazil suddenly changed course in the middle of the Atlantic Ocean due to a sharp rise in global energy prices. The change of plans came amid military operations in Iran, which made it more profitable for exporters to sell their cargo to other buyers. 

This was reported by Reuters.

Specifically, the Flora 1, carrying 37,000 tons of diesel, was redirected to the Suez Canal, while the Aurora turned toward the Strait of Gibraltar. Two other tankers with a combined capacity of 106,000 tons are currently drifting at sea without a specific destination. Analysts note that this practice of changing the recipient during transit is rare for the oil market and indicates Russia’s attempt to maximize profits from instability.

For Brazil, which has become critically dependent on fuel from Russia since 2023, such disruptions pose a threat of shortages. The national company Petrobras is forced to operate at the limits of its refineries’ capacity to compensate for the unexpected loss of imports. The situation underscores the risks of energy dependence on an aggressor whose supplies are becoming increasingly unpredictable due to geopolitical factors.

Despite a temporary increase in oil export revenues, Russia’s economy continues to accumulate serious imbalances due to the war and high military spending. The budget deficit is growing rapidly, inflation is accelerating, and reserves are gradually being depleted. Analysts point out that oil revenues are only temporarily masking deeper problems. 

Russian authorities are planning massive layoffs of public sector employees amid a sharp rise in the government budget deficit. As of April 1, the number of employees recommended for dismissal reached 105,147. These figures are provided by Rostrud.