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Türkiye’s Güzel Enerji Raises Diesel Prices Amid Western Sanctions on Russia
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Turkish fuel supplier Güzel Enerji warned wholesale clients about an increase in diesel prices, citing Western sanctions against Russia that have disrupted supplies and raised insurance and financing costs, Reuters reported on November 4.
According to a letter seen by the agency, one of Türkiye’s largest fuel distributors raised wholesale diesel prices starting November 3 due to sanctions imposed on Russian oil majors Lukoil and Rosneft.
Türkiye remains heavily dependent on diesel imports from Russia and has been the largest importer of Russian diesel since 2022, when Western countries banned Russian oil products following Moscow’s full-scale invasion of Ukraine.
In its letter, Guzel Enerji said its import costs had risen significantly because of the sanctions.
Sources told Reuters that Turkish fuel suppliers have reached out to local refineries Tupras and SOCAR to increase domestic diesel supply. Some traders are also seeking non-Russian diesel cargoes to meet domestic demand.
Following the new restrictions, Tupras and SOCAR have been importing more non-Russian crude oil to sustain their output.
Imports of Russian diesel to Türkiye rose from 117,000 barrels per day in 2022 to over 300,000 barrels per day in 2023 and 2024. Brazil has also increased its imports of Russian diesel during the same period.
Russian oil producer Tatneft continues to operate a major retail fuel network in Türkiye.
Earlier, it was reported that Russia’s seaborne crude shipments have dropped sharply, marking the largest decline since January 2024, as the latest round of US sanctions led key buyers, including China, India, and Türkiye, to pause purchases of Russian oil.
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