Russia's fuel crisis has reached the point where one of the world's biggest oil producers is preparing to import jet fuel. According to Reuters, Russia is set to receive at least 200,000 barrels of jet fuel originating in Japan through a complex chain of traders and ship-to-ship transfers via South Korea. The cargo is expected to load from Chiba, Japan, in the first half of July before heading to South Korea's Yeosu port for a ship-to-ship transfer. From there, it is expected to sail to Russia, although the final destination has not been disclosed.
For a country that until recently exported aviation fuel, the optics are difficult to ignore. Russia has spent months insisting its fuel shortages were manageable. Then came gasoline purchase restrictions, talk of a possible diesel export ban, and President Vladimir Putin's unusually public admission that fuel shortages had become serious enough to warrant direct government intervention.
