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Russia transports significant volumes of oil through Turkey to the EU, with Turkey being a key importer of Russian fossil fuels. In March, Turkey saw an 8% increase in petroleum product imports, notably a 15% rise in imports from Russia. This surge in imports aligns with Turkey's status as the largest importer of oil products from Russia since the EU and G7 ban on refined oil products in February 2023. This dynamic underscores Turkey's pivotal role in facilitating the flow of Russian oil to the European market, highlighting the intricate energy relationships between Russia, Turkey, and the EU.
Citations:
[1] https://www.ecb.europa.eu/press/economic-bulletin/focus/2023/html/ecb.ebbox202302_02~59c965249a.en.html
[2] https://www.transportenvironment.org/articles/how-russian-oil-flows-to-europe
[3] https://www.bruegel.org/blog-post/how-european-union-tariff-russian-oil-can-be-designed
[4] https://energyandcleanair.org/march-2024-monthly-analysis-of-russian-fossil-fuel-exports-and-sanctions/
[5] https://www.aljazeera.com/news/2023/5/16/eu-to-curb-indian-fuel-imports-made-with-russian-oil-report
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