Türkiye is starting to replace Russian oil with raw materials from other sources

The largest oil refineries in Turkey have started to increase purchases of this raw material from outside Russia, Reuters reported on Sunday, citing industry sources. Türkiye, along with China and India, is the main recipient of Russian oil.

Turkish refineries are taking similar steps as refineries in India, the agency said, emphasizing that this is the result of the actions of the US, the European Union and Great Britain.

One of the largest refineries in Turkey, owned by the Azerbaijani company SOCAR, began to purchase oil from countries other than Russia. In December, loads of raw materials will arrive, including: from Iraq and Kazakhstan; these supplies should meet between one-third and one-half of demand. Previously, almost all the oil processed in these plants came from Russia – according to data from Kpler, a company that monitors the energy market.

Similar actions were taken by one of the two refineries belonging to the Turkish concern Tupras, which started importing crude oil from Brazil and Angola. Two sources familiar with the matter say it will allow it to maintain exports to Europe while avoiding sanctions. At the same time, the company will continue processing Russian oil in its second refinery.

In the second half of October, the EU imposed another, 19th, package of sanctions on Russia, including: more ships of the shadow fleet used by Moscow to circumvent restrictions on oil, Russian oil companies Rosneft and Gazprom Neft, and a ban on the import of Russian LNG from 2027. In addition, the package envisages blocking transactions in cryptocurrencies and restrictions on further banks in Russia and third countries, as well as export restrictions on several dozen more Russian and third-country companies that help supply the Russian arms industry with technologies.

The US imposed sanctions on the two largest Russian oil companies, Rosneft and Lukoil, and their subsidiaries. They will not have access to American technologies, financing and services, and foreign entities cooperating with them may be subject to secondary sanctions. (PAP)

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