Large world trading houses plan to reduce the purchase of oil and fuel from Russian state oil companies for 15 May to avoid violations of the European Union sanctions against Russia, writes Reuters.
According to sources, trading companies turn into procurement from the Russian energy group “Rosneft”.
The formulation of the EU sanctions eliminates the purchase of oil from Rosneft or Gazpromneft, which are listed in the legislation and are considered “strictly necessary” to ensure energy security of Europe.
According to sources, traders are fighting over what means “strictly necessary”. Therefore, companies reduce procurement to ensure compliance with the requirements for May 15, when the EU restrictions will enter into force.