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Black Sea Drone Attacks Shift Turkish Oil Imports Away From Russian Supply Lines
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Turkey made no purchases of Russian Urals crude oil in August after drone strikes disrupted operations at the port of Novorossiysk, Reuters reported, citing traders and LSEG data.
In July, Russian Black Sea ports delivered 300,000 tons of crude to the Turkish market, which was half of the 600,000 tons sent in June.
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Total Turkish purchases through Russian ports reached 900,000 tons in July, covering Russian Urals alongside Kazakh grades CPC Blend and KEBCO.
This represents a 25 percent—or 300,000-ton—drop compared to June. August exports may decrease further to 200,000 tons, consisting entirely of KEBCO crude shipped through the Sheskharis terminal in Novorossiysk.
To replace Russian and Kazakh oil volumes, Turkish importers have been increasing their crude purchases from suppliers in Brazil and Guyana, according to industry sources cited by Reuters.
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Although no deliveries of Urals oil to Turkey are scheduled for August, trade sources noted that the delivery schedule could potentially change during the second half of the month.
On August 6, Ukrainian forces struck the Bashneft-Novoil refinery in Russia’s Bashkortostan region and the Slavneft-YANOS refinery in Yaroslavl region as part of Kyiv’s expanding long-range strike campaign.
Ukrainian President Volodymyr Zelenskyy said the operations were aimed at reducing Russia’s oil revenues used to finance the war.
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