Commodities and Futures News
Azerbaijan stop the supply of Russian oil
2022.12.08 10:58
[ad_1]
Azerbaijan stop the supply of Russian oil
Budrigannews.com – As the industry struggles with EU sanctions on shipping and crude, sources familiar with the situation stated that the trading arm of Azerbaijan’s state oil company SOCAR has halted Russian purchases for its Turkish refinery.
Following Russia’s invasion of Ukraine, Turkish refineries, including SOCAR’s STAR plant, had increased their purchases of Russian crude.
According to data from Refinitiv Eikon, Russian flows to Turkey had already fallen to their lowest level since February. A source claimed that SOCAR was evaluating the situation to ensure compliance with Western sanctions.
