Turkey Lowers Oil Purchases From Russia as US Tightens Sanctions
SOCARâs STAR Refinery in Izmir, Turkey.
Photographer: Mehmet Emin Menguarslan/Anadolu Agency/Getty Images
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.
The move came after the US blacklisted state owned Rosneft PJSC and fellow Russian oil giant Lukoil PJSC, prompting Turkiye Petrol Rafineleri AS and Azerbaijan’s Socar-owned Star Rafineri AS to look for alternatives, according to people familiar with the matter. They spoke on condition of anonymity to discuss the sensitive issue.