QUITO – Ecuador’s state-owned oil company Petroecuador has asked global commodity trader Trafigura to prevent the loading of Russian diesel to comply with sanctions on Russia’s energy exports, Petroecuador said in a delay on Sunday.
Petroecuador’s public warning to Trafigura follows sanctions imposed by the European Union and the United States on Russian power after Moscow invaded Ukraine in February. Russia calls its moves in Ukraine “a special army operation. “
Sign up for the most productive stories from National Post, a department of Postmedia Network Inc.
A welcome email is on the way. If you don’t see it, check your spam folder.
The next NP Published factor will soon be in your inbox.
We found a challenge with your registration. Check back
Petroecuador seeks to prevent Russian imports in order to have an impact, adding sanctions against Ecuador and the country’s own officials. The Andean country depends on the source of foreign diesel basically for fuel and electricity.
Under a diesel sales contract awarded in June to Geneva-based Trafigura, the trader warned to avoid Russian materials, as he delivered 1. 68 million barrels of diesel to Petroecuador in six shipments between July and September.
In its statement, Petroecuador noted that it had already discovered a shipment containing most of the Russian products.
Trafigura will deliver on Saturday a fourth shipment of diesel of about 27 five thousand barrels, 95% of Russian origin and the remaining 5% of Panama, according to the Petroecuador statement. It is not known what the prestige of the cargo is.
Trafigura said on Monday it did not comment on individual shipments but was fully complying with EU sanctions, without elaborating. It did not respond to Petroecuador’s request to avoid the Russian diesel load.
Ecuador’s central bank has in the past warned corporations that it may simply disregard letters of credit in contracts related to Russian oil because of sanctions.
Petroecuador that included language prohibiting imports of Russian products in the diesel source contract, valued at $256. 3 million and covering imports that would allow it to meet the demand for diesel from the country’s electrical, industrial, fishing and oil sectors. (Alexandra Valencia reports; Additional information through Valentine Hilaire; Editing through David Alire García and Josie Kao)
Options for a quote and function
365 Bloor Street East, Toronto, ONTARIO M4W 3L4
© 2022 National Post, a department of Postmedia Network Inc. All rights reserved. Unauthorized broadcasting, transmission or transmission is strictly prohibited.
This uses cookies to personalize your content (including ads) and allows us to analyze our traffic. Learn more about cookies here. By continuing to use our Array, you agree to our terms of use and privacy policy.