Russia loses ground as Europe’s 4th-largest economy doubles exports to Africa’s largest oil reserve holder, with trade hitting $7.8bn

At the same time, Moscow has experienced a major loss of market share in North Africa as Libyan state energy authorities shift fuel procurement toward Western commodity traders and Mediterranean processing facilities.

Economic exchanges between Rome and Tripoli reached nearly €6.8 billion over the first seven months of 2026, marking a 44.9% increase compared to the same period in the previous year.

Italian exports to Libya doubled, rising 101.3% to €2.033 billion, cementing Italy’s status as Libya’s largest foreign trading partner with a 17% share of all imports.

While non-energy commercial sectors expanded, refined petroleum products remained the primary component of Italian sales, accounting for 58.8% of total exports.

Commercial diversification has also gained momentum across non-oil sectors.

As reported by Libya Observer, Libero Testori, director of the Italian Trade Agency’s Tripoli office, noted that his team observed “growing interest from companies operating in construction, furniture, design and consumer goods” as Italian firms work to broaden local supply chains.

The expansion of Italian trade coincides with a fundamental realignment in how Libya secures its fuel.

State-owned National Oil Corporation awarded major supply tenders to international trading houses including Vitol, Trafigura, and TotalEnergies, allowing Western companies to deliver gasoline and diesel directly from Mediterranean refineries.

As reported by Reuters, “The tenders will further reduce Russian product imports into Libya as Western firms source their volumes from refineries in the Mediterranean.”

This shift has drastically reduced Moscow’s presence in the Libyan energy market.

Data from global analytics firm Kpler shows that “Russian fuel exports to Libya have fallen to around 5,000 bpd in 2026 from 56,000 bpd in 2024–2025, when it was the dominant supplier“.

Reuters reported that in place of Russian volumes, Italy has emerged as Libya’s top fuel supplier in 2026, delivering 59,000 barrels per day primarily from the ISAB and Sarroch refineries.