Turkey Refuses Russian Oil: What Impact on the Russian Economy

Turkish oil refining companies are changing their raw material procurement strategy and preferring other markets due to new sanctions against Russia. This reorganization allows them to avoid problems with secondary sanctions and maintain access to the European market.

In light of restrictions from the USA, EU, and the UK, Turkey is reducing the share of Russian oil in its imports. For example, SOCAR Turkey Aegean Refinery (STAR) has already begun purchasing oil from other regions, while Tupras is preparing for a complete rejection of Russian raw materials.

One of the key signals of the strategy change was the decision by SOCAR Turkey Aegean Refinery (STAR), controlled by Azerbaijani SOCAR, to switch to sourcing raw materials from the Middle East and Central Asia. The enterprise has already acquired at least four tankers with Iraqi, Kazakh, and other non-Russian oil scheduled for delivery in December. This is equivalent to about 80-130 thousand barrels per day and signifies a reduction in the share of Russian oil in the refinery's production balance.

Thus, the Turkish oil import market is responding to global trends and political restrictions by changing its supply routes and raw material sources.