To replace Russian oil, Europe found Dubai

Driven by the EU's search for a Russian crude alternative, Abu Dhabi crude oil in the UAE is returning to the European market
.

The Arab News reported that CSSSA, the shipping arm of French energy giant Total, has leased the Suez-type tanker Moscow Spirit and will load 1 million barrels of Murbán crude oil (one of Abu Dhabi's three grades of crude oil) from the port of Jebel Dhanna in the United Arab Emirates to the United Kingdom
on May 1-3.
This will be the first shipment of Abu Dhabi crude oil to Europe
in two years.

Since the escalation of the Russian-Ukrainian crisis, the EU has struggled to find an alternative
to Russian crude oil.
Ukrainian President Volodymyr Zelensky has asked the European Union to stop importing crude oil and gas
from Russia.

This shipment may just be the beginning
.
The report said that Abu Dhabi's three grades of crude oil (Murpán, Das and Upper Zakum) will continue to be shipped to Europe in the coming months to replace Russian oil, which could squeeze out the UAE's crude oil exports
to Asia.

It is worth noting that due to the generous discounts, Asian buyers such as India are buying Russian oil in large quantities, avoiding the higher price of Saudi and United Arab Emirates crude oil
.
The return of Abu Dhabi crude oil to Europe may lead to the exchange of some markets
between Russian oil and Azerbaijan oil.

Reuters statistics show that since the escalation of the Russian-Ukrainian crisis on February 24, refineries in India have ordered at least 40 million barrels of Russian crude oil
.
By comparison, India imported just 16 million barrels
of Russian crude last year.

Indian Oil Minister Hardeep Singh Puri defended India's crude oil purchases from Russia as a fraction
of the country's overall crude oil demand.

The U.
S.
side has said it is not opposed to buying Russian oil at below-market prices, but does not allow imports to rise sharply to boost Russian fiscal revenues
.