Turkish Oil Terminal Abandons Russian Oil Imports Amid Broadening US Sanctions
By Jace Dela Cruz
Mar 07, 2024 02:37 AM EST
Mar 07, 2024 02:37 AM EST
The Dortyol oil terminal on Turkey's Mediterranean coast has stopped accepting Russian imports amid pressure from US sanctions.
According to Reuters, Turkey, which became a major importer of Russian oil and fuel since 2022, witnessed a surge in Russian imports following Western sanctions imposed on Russia after it invaded Ukraine.
With Russia redirecting its oil exports away from Europe and the US to Asia, Africa, and Turkey, the Dortyol terminal experienced a substantial influx of Russian oil last year.
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Global Terminal Services (GTS), the operator of the Dortyol oil terminal in Turkey's southeastern Hatay province, has already told its clients it would no longer accept any products from Russia.
GTS told Reuters that it "decided to cut all possible connections to Russian oil and declared accordingly to its customers in late February 2024 that even if there is no breach of any laws, regulations or sanctions, it would not accept any product of Russian origin or any products loaded from Russian ports as an additional measure to the sanction rules in effect."
GTS noted that it would still accept Russian cargoes nominated before the ban in late February. The move comes amid growing concerns over potential repercussions from the US, which has threatened to impose sanctions on financial entities doing business with Russia.
The US threat has reportedly chilled Turkish-Russian trade and disrupted some payments for imported oil and Turkish exports.
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