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Pit stop for Putin: Türkiye helps Russia sell oil

Pit stop for Putin: Türkiye helps Russia sell oil Türkiye helps Russia supply oil to the EU (fleetmon com)
Author: Maria Kholina

Türkiye aids Russia in selling oil. This scheme exploits loopholes in sanctions, helping Moscow rake in billions, according to Politico.

Russia's oil is being funneled to the European Union en masse through Türkiye. Ankara has become a pit stop of sorts for Russian oil products en route to the EU.

From February 2023 to February 2024, Türkiye increased its purchases from Russia by 105% compared to the previous year. During the same period, fuel exports from Türkiye to the EU grew by 107%.

Politico adds that not every batch of Turkish oil is Russian in origin. Türkiye possesses oil refineries capable of processing nearly 1 million barrels of oil per day. Additionally, the country resells other non-Russian fuels.

The Türkiye-Russia scheme is built on sanctions loopholes. Despite the EU's ban on importing Russian oil in February 2023, permission was granted for the import of blended fuel. Research confirms that Moscow earned €3 billion in just one year from the scheme through three ports.

One of the main importers of such blended non-Russian fuel is Greece. The country assures that it conducts proper customs control and there are no violations.

Politico emphasizes that during customs checks, a document specifying the cargo's origin, called a certificate of origin, is examined. Importing Russian fuel is illegal, but if the brand is changed to Turkish, sanctions can be circumvented.

Sanctions against Russia

Since the onset of the full-scale invasion, Ukraine's partners have imposed new sanctions against Russia and expanded existing restrictions.

In particular, the European Union has introduced over ten packages of sanctions against Russia, including restrictions on the import of Russian oil and gas. According to EU reports, Brussels is currently preparing a new package of sanctions.

According to Reuters, the European Union also plans to impose sanctions against a number of Russian propaganda media outlets.