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Great Britain uses the loophole left in the legislation to circumvent sanctions and continues to buy large quantities of Russian oil, informs the publication “The Guardian”.
Great Britain is using the loophole left in the legislation to circumvent sanctions and continues to buy Russian oil in large quantities, informs the publication “The Guardian”.
The newspaper indicates that in 2023, 2.2 billion was spent on importing refined oil from India, China and Turkey. pounds sterling. Analogous amounts of raw material were purchased in 2022 as well, when in 2021 “only” £434.2m was spent on it.
India, China and Turkey are named as the main buyers of Russian oil.
“As long as Russian oil is processed in other countries, it is not considered to be produced in Russia, so the ban on its sale can be ignored. This leads to oil being bought and processed by allied countries before being exported to Great Britain,” the publication states.
British government reports show that direct oil imports from Russia in the first half of 2022. which reached 1.5 billion in the quarter sterling, shrunk to zero a year later.
April 18 Bloomberg reported that unknown companies are supplying Russian oil due to sanctions.
According to journalists, recently more and more specialized companies have appeared, unheard of by experienced market participants, but able to take care of raw material supply.
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