Traders at the Stock Exchange and Financial Information Company (LSEG) noted that
Turkey's import of Russian Urals oil in November is already approaching a record high level.
Ankara continues cooperation with Moscow
According to analysts' forecasts, the supply of Russian "black gold" of the Urals brand to Turkey this month will increase above October's 1.4 million tons.
Moreover, it may even exceed the historical peak of October 2022 of 1.43 million tons.
The LSEG team draws attention to the fact that the Turkish side has already bought more than 800,000 tons of Urals oil from Russian ports in the period from November 1 to 15, which is 200,000 tons more than in the same period in October.
Turkey has increased imports of cheap Russian oil after its largest refinery, STAR, owned by Azerbaijan's SOCAR, signed an agreement with Russia's Lukoil for urgent supplies of this type of oil.
In addition, it is emphasized that Lukoil began supplying Urals to STAR in October and, according to preliminary data, will supply about 100,000 barrels per day this month, which is equivalent to half of the plant's capacity.
The West is already trying to deal with this problem
Recently, however, it has been officially revealed that the US Treasury Department has sent inquiries to 30 owners of about a hundred ships suspected of transporting Russian oil, despite the price ceiling was already agreed by Western leaders.
What is important to understand is that a year ago, the "G7", the European Union and Australia imposed a 60 dollars per barrel restriction on Russian oil exports by sea.
However, the rapid rise in global oil prices in 2023 has led to a significant portion of Russian oil trading at prices above 60 dollars, which de facto offsets the effect of Western sanctions.
