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Analyst: Ukraine imports diesel fuel of Indian origin after losing a key refinery

Analysts said that the loss of Ukrainian oil refining facilities this summer forced traders to import diesel fuel, even from India. India imports a large portion of its crude from Russia.

Russia has been trying to win the war against Ukraine by using drones and missiles to attack Ukrainian fuel storage and refineries.

Ukraine has used similar tactics to defend itself, but neither side is transparent about the extent and severity of damage.

Serhiy K. Kuyun, a fuel consultant from Ukraine, said on Facebook that the Kremenchug oil refining plant (which) had been hit by dozens of ballistic and cruise missiles was destroyed in June.

The market was rushing to purchase what was available. India was the only option. We don't transport it, international traders transport it to Turkey and Romania. And we buy what is already there," he said.

He said that Indian fuel met post-Soviet standards, including Ukrainian ones, and claimed some of it had been purchased by Ukraine's defence ministry, who never comment on fuel purchases.

He didn't specify the import volumes, but said that Indian diesel had an unexpected market share of around 10%.

Before the war with Russia began in 2022 and the full-scale conflict, Ukraine imported diesel fuel from Belarus and Russia mainly to compensate for its lack of production. Since 2022, Ukraine has imported diesel fuel primarily from European countries.

A-95 reported that the imports of diesel fell 13% on an annual basis in the first six months of this year to 2.74 millions metric tons. (Reporting and editing by Kevin Liffey; Pavel Polityuk)

(source: Reuters)