Turkey doubles Russian oil imports – media

Ankara and Moscow are committed to greater cooperation, especially in energy trade, writes Reuters.

Turkey has doubled its imports of Russian oil this year as part of expanding cooperation with Russia amid Western sanctions. Reuters reported this on August 22, citing data from Refinitiv Eikon.

It was noted that trade between Ankara and Moscow has improved since the spring. Turkish companies, which are not prohibited from doing business with Russian partners, “filled the void” that was created as a result of the refusal of Western companies to cooperate with the Russian Federation because of its aggression in Ukraine.

Turkey increased its imports of oil from Russia, including the Urals and Siberian Light grades, by more than 200,000 bpd, from 98,000 bpd in the same period in 2021, according to Refinitiv.

It is emphasized that the main Turkish refineries Tupras and the Azerbaijani refinery SOCAR STAR significantly increased the consumption of Russian oil Urals and Siberian Light this year, while reducing purchases of North Sea, Iraqi and West African varieties.

This year, Russian oil prices have fallen to historic lows relative to benchmark Brent, while the value of North Sea and Iraqi oil has risen.

Reuters recalled that Ankara has not imposed sanctions against Russia for its actions in Ukraine, saying that it remains dependent on energy supplies.

As reported Correspondent.net, in early August, Turkish President Recep Tayyip Erdogan met with Russian leader Vladimir Putin in Sochi. In the closed talks, in particular, the supply of grain and gas was discussed.

Earlier, Bloomberg reported that Turkey, pursuing its own interests, prevented the West from isolating the Russian economy.

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