Russia earns tens of billions of euros in the EU despite the sanctions
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Economics
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Russia earns tens of billions of euros in the EU despite the sanctions

Russia was once again able to bypass EU sanctions
Source:  Politico

The European Union is actively investigating the supply of Russian oil products to the bloc to circumvent sanctions. It was Turkey that contributed the most to the new machinations of the aggressor country.

Points of attention

Russia supplies petroleum products to the EU through Turkey.
Ankara plays a key role in this scheme, helping Russia export oil products to the European Union through its ports.
Relations between Turkey and the European Union began to deteriorate.

Russia was once again able to bypass EU sanctions

As the journalists managed to find out, a large-scale investigation is being conducted by the European Union Anti-Fraud Office.

According to the latest data, during the year after the announcement of the embargo on the supply of Russian oil products on February 5, 2023, the members of the European Union purchased 5.2 million tons worth more than 3 billion euros from three Turkish ports: Ceyhan, Marmara Ereglisi and Mersin.

It is important to understand that there are no processing facilities in the specified ports.

The investigators came to the conclusion that the aggressor country of the Russian Federation still found a loophole in the EU sanctions rules, which makes it possible to import products from Russian oil in case of significant processing (blending). After that, Moscow quickly established supplies through Turkish ports.

Turkey continues to cover for Russia

Journalists draw attention to the fact that from February 2023 to the end of February 2024, Turkey imported 17.6 billion euros worth of Russian oil products.

It is important to understand that this is as much as 105% more than in the previous similar period.

At the same time, Turkish fuel exports to the EU increased by 107%. The Russian Federation earned 5.4 billion euros from the supply of oil products to Turkey, which enabled Moscow to continue its full-scale invasion of Ukraine, the publication writes.

In addition, it is emphasized that the investigation is being conducted against the background of worsening relations between Brussels and Ankara due to its pro-Russian position.

It is worth noting that in 2023, Russia received another 1 billion euros through a separate loophole in EU sanctions in Bulgaria.

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