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EU probes loophole allowing sale of Russian oil

EU launches investigation into loophole allowing Turkey to sell Russian oil

11:15, 05.11.2024
  jc/ew;
EU launches investigation into loophole allowing Turkey to sell Russian oil The European Union’s anti-fraud office, OLAF, has initiated an investigation into a loophole that allows countries like Turkey to rebrand sanctioned Russian oil and export it to the EU.

The European Union’s anti-fraud office, OLAF, has initiated an investigation into a loophole that allows countries like Turkey to rebrand sanctioned Russian oil and export it to the EU.

EU sanctions permit “blended” fuels as long as they are identified as non-Russian. Photo: Alexander Manzyuk/Anadolu Agency via Getty Images
EU sanctions permit “blended” fuels as long as they are identified as non-Russian. Photo: Alexander Manzyuk/Anadolu Agency via Getty Images

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The circumvention leverages a gap in the EU's sanctions framework, which permits the entry of “blended” fuels as long as they are identified as non-Russian.

In the year following the EU’s ban on Russian oil imports in February 2023, Moscow allegedly earned up to €3 billion from exports via three Turkish ports alone, media outlet Politico reported.

The case underlines broader concerns over Russia’s ability to exploit EU regulatory gaps.

Last year, the NGO Global Witness presented evidence showing that Russia made a €1 billion profit from another EU sanctions loophole in Bulgaria.

The investigation comes at a time when tensions are escalating between Brussels and Ankara over Turkey's close ties with Russia.

Despite some minor steps taken by Turkey to align with U.S. sanctions, its engagement with Moscow continues to strain relations with the EU.