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Brazil could be one of the new destinations for Russian oil exports

About half of Russia's oil exports could find new markets once the European Union's ban on Russian supplies takes effect, according to energy data firm Kpler.

Some Middle Eastern countries, as well as Brazil, Indonesia, Pakistan, South Africa, and Sri Lanka, could buy up to 1 million barrels per day from Russia next winter, Kpler said in a research report.

The European Union continues to buy some Russian oil, but by the end of the year, most imports of Urals crude will be banned.

A blockade on petroleum products will begin next February.

The Russian oil industry, which . . .

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