Key facts
- Saudi Arabia is a major buyer of Russian fuel oil.
- Imports of Russian fuel oil by Saudi Arabia increased significantly in March 2026.
- The Iran war and Hormuz crisis have reduced domestic oil and gas supply in Saudi Arabia.
- Saudi Arabia uses Russian fuel oil for power generation, freeing up its own crude for export.
- Saudi Arabia is utilizing the East-West pipeline to export crude via the Red Sea.
Saudi Arabia has significantly increased its purchases of Russian fuel oil and vacuum gasoil (VGO) as the ongoing conflict involving Iran and the crisis at the Strait of Hormuz have disrupted domestic energy supplies. Despite a general decline in Russian fuel oil exports in May, Saudi Arabia remained the largest buyer, accounting for over a third of the total shipments. These imports are crucial for Saudi Arabia's power generation, allowing the kingdom to reserve its own crude oil for export. The country has ramped up flows through its East-West pipeline to bypass the closed Strait of Hormuz and export crude via the Red Sea. This strategic shift allows Saudi Arabia to maintain its export volumes despite regional geopolitical tensions.