Ukraine "Shell and Vitol Must Stop Oil Transactions"
"Oil Routed Through Turkiye Exceeds 5 Million Barrels"
[Asia Economy Reporter Hyunwoo Lee] As the first anniversary of the Ukraine war approaches, Western countries such as the United States and the European Union (EU) are seeking to strengthen sanctions against Russia. Amid this, controversy has arisen as global oil majors like Shell and Vitol are reported to have circumvented sanctions by re-importing Russian oil. These companies are said to be evading sanctions by re-importing Russian crude oil exported to Turkey and India.
According to the UK Guardian on the 19th (local time), Oleg Ustenko, Ukraine's chief economic advisor, recently requested in writing that Shell and Vitol cease trading Russian crude oil. Advisor Ustenko pointed out, "Although Shell and Vitol have not violated EU sanctions, they are exploiting loopholes in the sanctions by trading Russian oil products laundered through Turkish refineries."
According to the Guardian, based on data compiled by the UK environmental organization 'Global Witness,' since the EU banned imports of Russian crude oil on December 5 last year, Shell has imported over 600,000 barrels of oil from Turkish refineries. Vitol supplied EU countries with 2.77 million barrels of oil products imported from two Turkish refineries over nearly a year since Russia's invasion of Ukraine in February last year.
The total volume of refined products exported from the Turkish refining industry to Europe since December 5 last year has reached 5 million barrels, with a significant portion believed by Global Witness to be refined from Russian crude oil. The Guardian also reported that re-imports via India are actively taking place.
Earlier, the EU banned imports of Russian crude oil via oil tankers on December 5 last year, and from the 5th of this month, it also banned imports of refined products including diesel. However, refined petroleum products processed from Russian crude oil exported to third countries were not included in the regulations. Consequently, criticism is mounting that re-imports through countries such as China, India, and Turkey, which have not banned Russian crude oil imports, are significantly increasing.
Shell and Vitol have rebutted Ukraine's claims, emphasizing their compliance with EU sanctions. Shell stated, "We do not import Russian crude oil or refined products and comply with sanctions," adding, "The ban does not include the purchase of refined products processed in countries where importing Russian crude oil is legal."
Vitol also said, "According to international regulations, products imported from Turkish refineries are not classified as Russian," and added, "The volume of Russian crude oil and product transactions has decreased by more than 90% since the first quarter of last year, and current transaction volumes are minimal."
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