Türkiye reduced oil purchases from Russian ports in July and is set to cut them further in August after Ukrainian drone attacks disrupted exports from Russia's Black Sea terminals, according to traders and LSEG shipping data, Reuters reports.
Ukraine stepped up attacks on Russia's Black Sea terminal in July, leading to a one-week export suspension from the CPC terminal and unstable loadings from Novorossiysk port. As a result, Caspian Pipeline Consortium (CPC) oil loadings in July were down by a fifth.
Türkiye criticized attacks on Russia-linked tankers close to its waters in the Black Sea, saying they were alarming and affected navigational safety and commerce in the region.
Türkiye, one of the major buyers of CPC Blend, Kazakh KEBCO and Urals oil grades, received only about 900,000 tons of oil from Russian ports in July, down from 1.2 million tons in June. Of this just above 300,000 tons were supplied from the Black Sea compared to 600,000 tons in June, according to LSEG data.
In August Türkiye is expected to receive some 200,000 tons of oil from Russia's Black Sea ports, according to LSEG. The two tankers expected to be supplied carry Kazakh KEBCO oil, while this month no CPC Blend or Urals oil loadings to Turkey are planned yet. The data may be updated later, however.
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