A number of Western nations, together with the USA, imposed an outright ban on Russian power imports, following Moscow’s invasion of Ukraine, however main European economies depending on Russian oil and gasoline have prevented drastic measures displaying the divide within the European Union.
Australia, Britain, Canada and the US have banned the import of Russian oil purchases within the wake of the Russian aggression, which has triggered the most important refugee disaster in a long time.
To date, the bloc’s 27 members have been unable to agree on an embargo, with Germany warning in opposition to hasty steps that might push the financial system into recession, and, some nations, corresponding to Hungary, opposing any bans.
An EU embargo would require unanimous approval from all 27 member states.
Many consumers in Europe have shunned Russian crude voluntarily to keep away from reputational harm or doable authorized difficulties.
Others, corresponding to commodity merchants Trafigura and Vitol, have continued shopping for Russian crude beneath current long-term contracts.
Each, nevertheless, informed Reuters that that they had not agreed to any new offers since Russia’s invasion of Ukraine, which Moscow calls a “particular navy operation” and which started on February 24.
India and China, which have refused to sentence Russia’s actions, have additionally continued to purchase Russian crude.
The next lists main consumers of Russian oil:
A Bulgarian refinery, owned by Russia’s Lukoil, and, with Russian crude accounting for about 60 p.c of its consumption, continues to refine Russian crude.
Russian crude continues to account for about 14 p.c of the consumption at Germany’s largest refinery, Miro, which is 24 p.c owned by Rosneft.
Germany’s refinery, 54 p.c owned by Rosneft, receives crude oil by way of the Druzhba pipeline.
Indonesian state power agency PT Pertamina is contemplating shopping for crude oil from Russia because it seeks oil for a newly revamped refinery.
The land-locked Leuna refinery in jap Germany, majority-owned by TotalEnergies, can also be fed Russian crude by the Druzhba pipeline.
Greece’s largest oil refiner depends on Russian crude for about 15 p.c of its consumption. The corporate earlier this month secured extra provides from Saudi Arabia.
Italy’s largest refinery, owned by Lukoil-controlled Swiss-based Litasco SA, processes Russian and non-Russian crude.
The Hungarian oil group, which operates three refineries in Croatia, Hungary and Slovakia, continues to be provided by the Druzhba pipeline. Hungary is against sanctions on Russian oil and gasoline.
The Dutch refinery, 45 p.c owned by Lukoil, declined to touch upon whether or not it was utilizing Russian crude oil.
Exxon Mobil declined to touch upon whether or not its Dutch refinery in Rotterdam was utilizing Russian crude oil.
India’s state refiner purchased two million barrels of Russian Urals for Might loading, in keeping with buying and selling sources final week.
Indian Oil Company
India’s high refiner on March 23 purchased three million barrels of Urals for Might supply from Vitol, commerce sources mentioned. That is the second buy of Urals by IOC since Russia invaded Ukraine on February 24.
Indian personal refiner, part-owned by Russia’s Rosneft, has purchased Russian oil after a spot of a yr, shopping for about 1.8 million barrels of Urals from dealer Trafigura.
The next lists corporations which have stopped shopping for Russian oil:
The British oil main, which is abandoning its stake in Rosneft, won’t enter new offers with Russian entities for loading at Russian ports, except “important for making certain safety of provides”.
Japan’s largest refiner has stopped shopping for crude oil from Russia, whereas some cargoes signed beneath earlier agreements will arrive in Japan till round April.
The power group, 30.3 p.c owned by the Italian authorities, is suspending purchases of Russian oil.
No Russian crude will likely be used at Germany’s Bayernoil refinery, through which Eni and Rosneft have stakes.
Norway’s majority state-owned power agency has stopped buying and selling Russian oil because it winds down its operations within the nation.
The Portuguese oil and gasoline firm has suspended all new purchases of petroleum merchandise from Russia or Russian corporations.
The Finnish refiner has Russian oil contracts till the top of the yr however isn’t making any new provide agreements.
Poland’s largest refiner has not purchased Urals crude on the spot market because the begin of the conflict in Ukraine, the corporate mentioned on Friday, whereas it has purchased just a few cargoes from Norway.
The corporate, which operates refineries in Lithuania, Poland and the Czech Republic, nevertheless, buys crude beneath beforehand signed long-term provide contracts with Russia’s Rosneft and Tatneft.
Sweden’s largest refiner, owned by Saudi billionaire Mohammed Hussein al-Amoudi, has “paused” new orders of Russian crude, which accounted for round seven p.c of its purchases, changing them with North Sea barrels.
The Spanish firm has stopped shopping for Russian crude oil within the spot market.
The world’s largest petroleum dealer will cease shopping for Russian crude and part out its involvement in all Russian hydrocarbons.
The French oil main won’t signal new contracts, promising to cease shopping for Russian crude oil and petroleum merchandise by the top of this yr.
The Swiss refiner, which owns 51.4 p.c of Germany’s Bayernoil refinery, mentioned it didn’t plan to enter into new offers to purchase Russian crude.