The Daily Populous Saturday May 18th, 2024 day edition
Authored by intellinews.com and submitted by green_flash

More evidence that Turkey simply relabels Russian oil products and re-exports them to Europe as Turkish emerges from a new study by the Centre for Research on Energy and Clean Air (CREA) and the Centre for the Study of Democracy (CSD).

“Turkey, the world’s largest buyer of Russian refined oil products, has emerged as a strategic pitstop for Russian fuel products rerouted to the EU, likely generating hundreds of millions in tax revenues for the Kremlin’s war chest,” said Martin Vladimirov, senior energy analyst at CSD and co-author of the report.

The report reveals that from the point the EU/G7 Russian petroleum products ban took effect on February 5 last year to the end of February this year, the EU has imported €3bn of oil products from three Turkish ports. The trio of ports—Ceyhan, Marmara Ereglisi and Mersin have no refining hubs and in the period analysed imported 86% of their oil products from Russia.

Turkey’s big role as an importer and re-exporter of Russian crude and oil products came more into focus in January last year when US senators claimed that “masked Russian oil” supplied via mid-sized Turkish oil trans-shipment terminal Dortyol even ended up in US warships after being processed at a Greek refinery.

Turkey’s imports of Russian oil have in fact grown almost fivefold over the last decade and in 2023, Turkey became the world’s biggest buyer of Russian oil products, importing 18% of Russia’s total exports of oil products. It has increased its reliance on Russia for the supply of seaborne refined oil products, mainly diesel, gasoil and jet fuel from 52% in 2022 to 72% in 2023, according to CREA and CSD.

Said CREA: “Investigations carried out by CREA and CSD of specific shipments suggest that European entities may have imported Russian oil products mixed or re-exported from oil storage terminals in Turkey.

“Loose EU legislation, combined with a lack of stringent enforcement, means that EU/G7 countries’ imports may still contain significant volumes of oil products of Russian origin — especially for their imports coming from Turkey that has not implemented sanctions [on Moscow].”

The study authors issued key findings, including:

In the period assessed, the EU imported 5.16mn tonnes of oil products valued at €3.1bn from the three Turkish ports with no refining hubs—Ceyhan, Marmara Ereglisi and Mersin. In this same assessed year-long period, 86% of the ports’ imports of oil products, in value terms, was from Russia.

Investigations of specific shipments carried out by CREA and CSD suggest that European entities may have imported Russian oil products mixed or re-exported from oil storage terminals in Turkey.

In May 2023, the Toros Ceyhan oil terminal at the port of Ceyhan received 26,923 tonnes of gasoil from Russia’s Black Sea oil export port of Novorossiysk — the terminal’s first import of the commodity in three months. Ten days after the import the terminal shipped a similar volume of gasoil to the MOH Corinth refinery in Greece. This trade seems to have exploited a legal loophole that allows blended Russian oil products to enter the EU.

Since the start of the EU/G7 ban on 5 February 2023 until the end of February 2024, Turkey has imported €17.6 €bn of Russian oil products, marking a 105% y/y increase. Since the introduction of the ban, 81% of Turkey’s imports of oil products have been from Russia, showing an increased reliance that could threaten their energy security.

Turkey’s domestic consumption of oil products grew by 8% in 2023. In contrast, the country’s seaborne imports of oil products grew by 56% suggesting that Turkey is becoming a re-export hub for oil products, not just satisfying growth in domestic demand.

Russia’s exports of oil products to Turkey generated €5.4bn in tax revenues for the Kremlin war chest, prolonging and enabling Moscow’s full-scale invasion of Ukraine.

The study authors also issued policy recommendations, namely:

StunningAssistance79 on May 18th, 2024 at 02:52 UTC »

So does Mexico, Saudi Arabia and India and about a half dozen other countries.

SexyWampa on May 18th, 2024 at 00:01 UTC »

And Europe knew damn well where it came from.

Vyncent2 on May 17th, 2024 at 23:54 UTC »

Shocking