Turkey, along with China and India, has traditionally been one of the major importers of oil from Russia.
According to the agency's data, SOCAR Turkey Aegean Refinery, one of the leading Turkish refineries owned by the Azerbaijani company SOCAR, has recently purchased four batches of oil from Iraq and Kazakhstan, as well as from other countries not linked to Russia. Deliveries are expected in December.
The volume of these supplies, according to Reuters' estimates, will range from 77,000 to 129,000 barrels per day. In September and October, Russian oil accounted for almost the entire consumption volume at the STAR refinery, which is about 210,000 barrels per day.
Another major player in the market, the company Tupras, is also ramping up purchases of oil not related to Russia, including grades similar to Russian Urals oil, as well as Iraqi grades, two sources reported.
According to information, Tupras, which operates two large refineries, may soon completely halt imports of Russian oil at one of its facilities. This decision is aimed at avoiding sanctions and preserving export opportunities to Europe, although processing of Russian oil at another plant will continue.
Recently, the European Union approved a new package of sanctions, the 19th in total, against Russia. These restrictions apply not only to Russian companies and banks but also to businesses from Central Asia, China, India, and Thailand.
Starting April 25, 2026, there will be a complete ban on the import of Russian liquefied natural gas under short-term contracts, and from January 1, 2027, under long-term contracts.
Additionally, the sanctions extend to the so-called "shadow fleet," consisting of 117 tankers involved in transporting Russian oil. The bans also affect the companies "Rosneft" and "Gazpromneft."
U.S. Treasury Secretary Scott Bessent announced sanctions against the largest Russian oil companies. According to him, "Rosneft" and "Lukoil" "finance the Kremlin's war machine." A week prior, similar measures were taken by the United Kingdom. The assets of the mentioned refineries have been frozen, and new transactions with them are prohibited. Companies have been given a month to wind down their operations.
