EU’s Oil Sanctions on Russia leave some gaps

FuelNuts & BoltsTrade & Border IssuesHot SpotsCompliance
Written By Jennifer Joslyn

While the European Union’s impending oil sanctions on Russia seem strict and exclusionary on its face, there are still some loopholes in the deal. Refiners, or those that convert crude oil into fuels like gasoline and diesel, have the advantage. Any refinery could buy Russian crude oil - likely at a less expensive price than global crude benchmarks - and still ship it safely and legally.

Essentially, diesel coming out of a third-party refinery fed with Russian crude oil is still considered a third-party country’s diesel. Signed, sealed, and delivered.

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Jennifer Joslyn
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