NTV: Russia apparently circumvents oil embargo thanks to Turkey

2 mins read

The EU does not import oil directly from Russia because of the invasion of Ukraine. But Turkey already does – and more so than before. As a result, exports to the EU and the USA are increasing massively. The suspicion is that the embargo against Russia is being circumvented.

Russia is increasingly using oil exports to Turkey to circumvent the embargo imposed by EU states. “Turkish refineries provide a gateway for Russian oil exports by refining products for markets that do not want to import Russian crude directly or cannot process it themselves,” according to a report by the independent Centre for Research on Energy and Clean Air presented on the sidelines of the climate conference.

Turkey, for example, has been importing more oil from Russia since the start of the Ukraine war. At the same time, exports of refined oil products to European countries or the U.S. increased by 85 percent in September and October, compared with the previous two months, it said. “A new route for Russian oil to the EU via Turkey is emerging,” the Finland-based institute pointed out. This gap in the embargo could become even more significant if sanctions are tightened again in early December, it added.

As part of the sixth EU sanctions package, it was decided in June 2022 that the purchase and import of Russian oil would be gradually reduced to zero. However, there are generous grace periods for this. First, imports of Russian crude oil within the EU are to end by December 5. By February 5, 2023, refined products will also no longer be allowed to be imported. However, there are exemption rules for some states.

According to the report, Russia took in 21 billion euros from fossil fuel exports in October, down seven percent from the previous month and a low since the war of aggression against Ukraine began. The Ukrainian government’s economic adviser, Oleg Ustenko, who joined the meeting by video, called for the immediate implementation of an import ban on refined products made from Russian oil scheduled for February.

main source of the news: https://www.n-tv.dehttps://www.n-tv.de/politik/Russland-umgeht-dank-Tuerkei-offenbar-Olembargo-article23722262.html

Salih Demir

Salih Demir lives in Germany. He is interested in politics and economy. Germany editor of -ancient idea- fikrikadim.com


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