Turkey’s oil refiners have reduced imports of Russian crude after the US sanctioned Russia’s top producers, Rosneft and Lukoil, prompting Tupras and SOCAR’s Star Rafineri to seek alternative supplies from Iraq, Libya, Saudi Arabia, and Kazakhstan. Although Turkey—previously the third-largest buyer of Russian oil—cannot completely end purchases, Ankara is aligning more closely with Western efforts to pressure Moscow over the war in Ukraine while diversifying its energy sources, according to Bloomberg. They write:
Turkey’s oil refiners have started cutting their purchases of Russian crude after the US sanctioned Moscow’s top two oil producers and are instead seeking extra barrels from nations including Iraq, Libya, Saudi Arabia and Kazakhstan. […]
Turkey, the third-largest buyer of Russian oil, came under pressure from President Donald Trump administration in September — prior to the measures being announced — to curb oil imports from Moscow. […]
Oil traders are still evaluating what impact the sanctions on Rosneft and Lukoil will have. There are signs that Indian plants have scaled back, and some wariness from China, but the Trump administration is cautious about steps that could result in a major supply loss.
Turkey is particularly interested in expanding exploration activities of its state-run TPAO in Libya, which could become a major supplier along with Iraq and Kazakhstan, they said. Some other countries from Africa to South America may also increase exports to Turkey, the people added. […]
Tupras and SOCAR didn’t immediately respond to requests for comment. Turkey’s energy ministry didn’t respond to requests for comment.
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