Skip to content
Edit post

Reuters: Turkish oil terminal refuses Russian imports amid US sanctions

by Martin Fornusek March 5, 2024 1:19 PM 2 min read
The Russian oil tanker Crius waits for a cargo of oil in Ceuta, Spain.
The Russian oil tanker Crius waits for a cargo of oil in Ceuta, Spain, on March 5, 2023. (Antonio Sempere/Europa Press via Getty Images)
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

Turkey's Dortyol oil terminal in the Mediterranean Sea has halted business with Russia as pressure caused by U.S. sanctions mounts, Reuters reported on March 5.

Western countries have sanctioned Russian oil trade due to Moscow's full-scale invasion of Ukraine in 2022. In response, Russia shifted its focus to other markets, including Turkey, China, and India.

Turkey became Russia's biggest buyer in the Western hemisphere, purchasing 24% of its oil products and 5% of its crude last year, according to the Center for Research on Energy and Clean Air.

Global Terminal Services (GTS), which operates the Dortyol terminal, said it would no longer accept products from Russia.

"GTS decided to cut all possible connections to Russian oil and declared accordingly to its customers in late February 2024 that even if there is no breach of any laws, regulations or sanctions, it would not accept any product of Russian origin or any products loaded from Russian ports as an additional measure to the sanction rules in effect," GTS told Reuters.

According to shipping analytics cited by the news agency, the GTS terminal, which is Turkey's seventh-largest import terminal by volume, received 11.74 million barrels of Russian crude oil and fuel in 2023.

The U.S., the EU, and other partners have banned the import of Russian seaborne oil, although the product continues to flow to some European countries via pipelines. The Group of Seven (G7) has also imposed a $60-per-barrell price cap on Russian crude shipped to global markets.

As Russia has largely managed to circumvent the cap, recent sanctions by the U.S. and the EU aim to tighten it further and prevent Russia from trading its oil above $60 per barrel.

Sanctions for show: Russian oil sales to China, India single main driver of Ukraine invasion
As Western sanctions designed to cripple Russian energy exports barely slow them down, the Kremlin continues to make enough money to keep its war against Ukraine going indefinitely, just by selling oil to China and India. After pivoting away from Europe, Moscow found enthusiastic buyers in Beijing…
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
9:44 PM

IMF: Ukraine needs $42 billion in budget support for 2024.

Speaking in Washington, IMF Managing Director Kristalina Georgieva said she was "confident" this would be achieved but added that fully addressing the country’s economic problems would require ending Russia's full-scale invasion.
9:35 PM

US House Democrats back Johnson's foreign aid bills.

"We're going to do what's necessary to make sure the national security bill gets over the finish line," House Democratic leader Hakeem Jeffries said. "It's not Johnson's foreign aid package. It's America's foreign aid package in terms of meeting our national security needs."
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.