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    Home > Chemicals Industry > Petrochemical News > Processing Russian crude oil for re-export? Here, into a new channel for the United States and Europe to buy Russian oil?

    Processing Russian crude oil for re-export? Here, into a new channel for the United States and Europe to buy Russian oil?

    • Last Update: 2022-11-25
    • Source: Internet
    • Author: User
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    The Energy and Clean Air Research Center said on November 16 that Turkey's recent purchases of Russian crude oil have been rising, and its exports of petroleum products to the United States and European Union member states have increased, making Turkey increasingly a new channel
    for the United States and EU countries to buy Russian oil.

    The think tank wrote in its latest report that a new route for Russian oil to enter the EU through Turkey is taking shape, and Turkey is increasingly becoming a destination
    for Russian crude oil exports.

    According to the report, Turkey's imports of Russian crude oil have increased
    since the escalation of the crisis in Ukraine in February this year.
    Turkey processes this crude oil domestically, re-exports petroleum products and sells them to countries that do not want to import Russian crude directly or to countries
    that do not have processing capacity.
    These countries include the United States and EU countries
    such as Spain and France.
    Turkey's exports of petroleum products to the United States and EU countries increased by 85%
    in September and October compared to July and August.

    Russia is one of the world's
    leading oil producers.
    After the escalation of the Russian-Ukrainian conflict, the European Union, together with the United States, imposed severe sanctions on Russia in an attempt to crack down on Russian oil and gas export revenues, but it led to tight energy supplies and soaring
    prices in Europe.
    Despite the fact that the United States announced sanctions on Russian oil, gas and coal since March this year, the United States continues to import petroleum products
    made from Russian crude oil from third countries.
    Russia also said in April that the United States has repeatedly increased its purchases of Russian oil, once reaching 100,000 barrels
    per day.

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