Egypt’s imports of Russian crude oil jumped 217% in April 2026, month-on-month (MoM), climbing to 707,000 barrels per day (b/d), following a mid-April waiver of US Treasury sanctions, according to S&P Global Commodities data.
At the same time, Egypt’s imports of Russian refined products nearly doubled to 498,654 barrels per day, rising by 129% from March, giving Egypt close to one-quarter of Russia’s total seaborne product exports for the month.
Russia’s seaborne crude exports climbed 8% in April, reaching a six‑month high as US sanctions relief and heightened concerns over Middle East tensions prompted buyers to diversify supply sources, even amid softer demand from India and China. Shipments by sea totaled 3.949 million b/d, up from 3.67 million b/d in April 2025.
Earlier in May 2026, the Egyptian General Petroleum Corporation (EGPC) and Algeria’s state-owned energy giant, Sonatrach, signed a Memorandum of Understanding (MoU) to establish an institutional framework for Egypt’s purchasing Algerian crude oil, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). According to the statement, the agreement aims to secure the needs of the domestic market.