Europe Imports Crude Oil from the UAE for the First Time in Two Years

France’s Total Energy has leased a tanker that will transport crude oil from the United Arab Emirates (UAE) to Europe in early May. This is the first crude oil shipment from the UAE to Europe in two years, after Italy last imported crude oil from the UAE in May 2020.

Europe’s look at Middle Eastern crude came about after European buyers avoided buying Russian oil.

The Suezmax oil tanker Moscow Spirit, leased by Total Energy, is scheduled to deliver Murban crude oil from the port of Jebel in the United Arab Emirates to the UK on May 1-3.

Europe is expected to import crude oil from the UAE in the coming months to compensate for the suspension of Russian oil imports as the EU is preparing to introduce new sanctions against Russian oil imports.

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