Who is buying Russian crude oil and who has stopped

Who is buying Russian crude oil and who has stopped

Abdul Hadi
June 1, 2022

Who is buying Russian crude oil and who has stopped

Australia, the United Kingdom, Canada, and the United States have all implemented outright restrictions on Russian oil sales, but the European Union’s 27 members have been unable to reach an agreement on the embargo.

As part of a sixth package of sanctions against Russia, the bloc is leaning toward banning Russian oil imports by the end of the year.

Even though a shutdown could result in shortages, Germany, the EU’s largest economy, claimed it would be able to withstand an EU embargo on Russian oil imports by the end of this year.
Hungary reiterated its opposition to any EU embargo on Russian oil and gas supplies.

Many refiners in Europe, on the other hand, have voluntarily ceased buying Russian crude or have vowed to do so when the situation improves.

From May 15, major global trading houses plan to curtail their purchases of Russian crude and petrol.

As a result, Russian diesel exports from the Baltic port of Primorsk, a crucial European supply source, are expected to fall by more than 30% in May.

China and India, who have declined to denounce Russia’s conduct, are still buying Russian crude.

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The following is a list of current and former Russian crude importers.

BHARAT PETROLEUM

HELLENIC PETROLEUM

INDIAN OIL CORP

ISAB

LEUNA

MANGALORE REFINERY AND PETROCHEMICALS