SOCAR TRADING stopped purchase of Russian oil

Azerbaijani oil and gas company Socar Trading suspended the purchase of Russian oil for processing at its oil refinery in Turkey. According to Reuters sources, this is due to the sanctions of the European Union in relation to Russian oil.

According to the Turkish Institute of Statistics, the import of Russian fuel to Turkey, including oil, decreased by 25%in October. According to Argus Media price agency, India and Turkey were the main consumers of Russian oil Urals.

EU introduced on December 1, the ceiling of prices provides for a refusal to insurance of vessels transporting Russian oil at a price above $ 60 per barrel. Against this background, tankers get stuck off the coast of Turkey. According to Financial Times, Ankara requires the ships to provide letters from their insurers guaranteeing insurance coverage in Turkish waters.