Banned Russian fuel keeps re-entering EU ports, with cargoes doubling in July

Some 18 shipments of oil products from refineries that run partly on Russian crude were unloaded at EU ports in July, more than double the eight recorded in the month before. This follows from the monthly analysis published on Monday (10 August) by the Centre for Research on Energy and Clean Air (CREA).“The oil price cap has failed to impose a durable constraint on Russian crude export earnings,” the centre concluded. Even though the EU banned refined fuels made from Russian crude at the start of this year, many European countries continue to receive shipments, data shows. Spain and Cyprus each took seven of the July cargoes, with Croatia, France, Greece, Italy, Malta and the Netherlands also receiving deliveries. From those cargoes, eight had come via Turkish refineries, five via India, and five via Georgia. And CREA said member states’ enforcement agencies must investigate the trade to stop Russian oil molecules re-entering the bloc. While Russia’s LNG earnings fell by 36 percent in July compared with June, Belgium still sourced all of its LNG imports from Russia in July and is now the EU’s third-largest importer of Russian fossil fuels. To read this story, log in or subscribeEnjoy access to all articles and 25 years of archives, comment and gift articles. Become a subscriber for as low as €1,75 per week.Read without limitsAlready a subscriber? Login