Trafigura to Stop Buying Oil From Russia’s Rosneft Before May 15
- Trading house will also reduce purchases of oil products
- Ukraine has called for a boycott of Russian commodities
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Commodities trader Trafigura Group will stop buying crude from Russian state-backed producer Rosneft PJSC before a European Union deadline of May 15, as pressure mounts to stop dealing with the country.
Trafigura will also substantially cut volumes of oil products bought from Rosneft, a spokesperson said, adding that those cargoes will be used solely to supply European customers. The EU in March announced a package of sanctions against Russian state-linked enterprises including Rosneft, which included an exemption until May 15 for contracts entered into before mid-March.