LONDON/MOSCOW : The trading arm of Azerbaijan's state oil firm SOCAR has paused purchases of Russian crude oil for its Turkish refinery as the industry grapples with EU sanctions on shipping and crude, sources familiar with the matter said.
Turkish refineries, including SOCAR's STAR plant, had increased purchases of Russian crude after Russia's invasion of Ukraine. Russian flows to Turkey had already dropped last month to their lowest since February, according to Refinitiv Eikon data, and a source said SOCAR was reviewing the situation in order to remain compliant with Western sanctions.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: