Many European buyers are shunning Russian crude voluntarily to avoid reputational damage or possible legal difficulties. Meanwhile, India and China continue to buy Russian crude
Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases following Moscow’s invasion of Ukraine, but the European Union remains divided.
Many buyers in Europe are shunning Russian crude voluntarily to avoid reputational damage or possible legal difficulties. The company has a contract with Rosneft that gives it an option to buy up to 2 million tonnes, equivalent to about 15 million barrels, of Urals crude in 2022.Italy’s largest refinery, owned by Lukoil-controlled Swiss-based Litasco SA, processes Russian and non-Russian crudes.The land-locked Leuna refinery in eastern Germany, majority-owned by TotalEnergies, is also fed Russian crude by the Druzhba pipeline.
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