The United States has intensified diplomatic pressure on NATO member countries, demanding they reduce purchases of energy supplies from Russia to help bring an end to the war in Ukraine. The American administration has particularly focused on Turkey in this matter. During a recent meeting between US Vice President Pence and Secretary of State Rubio with Turkish Foreign Minister Fidan, the main topic of discussion was the necessity of decreasing imports of Russian energy resources.
This is reported by Business • Media
Turkey Remains a Key Buyer of Russian Oil
Turkey currently ranks third among the largest importers of Russian oil, following India and China. As a result of new American sanctions, Turkish refineries have already reduced their purchase volumes; however, the country does not plan to completely abandon Russian raw materials for now. Moreover, Russia remains the main supplier of natural gas to Turkey. The countries are negotiating new long-term contracts as the existing agreements expire at the end of the year.
Tariff Reductions for India and Changes in the Oil Market
Amid changes in trade policy, US President Donald Trump promised India tariff reductions in response to a significant decrease in oil purchases from Russia by Indian companies. According to leading analytical agencies, five major Indian refineries, which previously accounted for 65% of Russian oil imports, have ceased purchasing raw materials from Russia for December. Experts link this decision to negotiations between India and the United States, under which India promised to increase its purchases of American oil.
At the same time, only two companies—Indian Oil and Nayara Energy—continue to purchase Russian oil. Specifically, Indian Oil is working with suppliers that are not under sanctions, while Nayara Energy, partially owned by Rosneft, remains focused solely on Russian fuel.
“Currently, Turkey is the third-largest buyer of Russian oil after India and China. New US sanctions have already led Turkish refineries to reduce their purchase volumes, but the country does not plan to fully abandon imports of Russian raw materials.”
Changes are also observed in the Chinese market: the major refining company Yanchang Petroleum is halting purchases of Russian oil for deliveries from December to mid-February. Previously, this company purchased one batch of Far Eastern grades ESPO or Sokol each month, but it has now changed its procurement strategy.