Media: EU launches investigation into Russian oil imports via Türkiye

The European Union’s anti-fraud office, OLAF, has opened an investigation into a loophole allowing countries like Türkiye to export sanctioned Russian oil to the bloc under a different label, according to two people familiar with the matter.

The probe comes after it was revealed that millions of barrels of Moscow’s fuel were likely arriving in the bloc after being rebranded in Türkiye, despite its ban on such Russian imports, Caliber.Az reports, citing Politico.

The scheme is possible because of a workaround in Brussels sanctions that allows “blended” fuels into the EU if they’re labelled as non-Russian.

The loophole generated up to €3 billion for Moscow from three Turkish ports alone in the 12 months after the EU sanctioned Russian oil imports in February 2023.

The practice showcases the creative ways in which Russia circumvents EU sanctions and protects its fossil fuel trade, which makes up almost half of the Kremlin’s revenues. Last year, POLITICO revealed that Moscow gained another €1 billion from a separate EU sanctions loophole in Bulgaria.

The probe also comes as relations sour between Brussels and Ankara over its Russian overtures — even as Türkiye makes minor moves to align with United States sanctions.

OLAF did not immediately respond to a request for comment.

By Khagan Isayev