Russian crude oil
Coverage of Russian crude oil in the Nexus archive.
- Georgia's Only Oil Refinery to Stop Processing Russian Crude
Black Sea Petroleum LLC, owner of Georgia's only oil refinery, is phasing out Russian crude oil in favor of Kazakh and Libyan crude under a 2027 agreement. The decision follows EU sanctions requiring the refinery to stop processing Russian oil by January 2027.
- Kazakhstan in Talks to Refine Russian Crude Oil Amid Fuel Shortages
Kazakhstan and Russia are discussing an arrangement where Kazakh facilities would refine Russian crude oil to address local fuel shortages, with a portion of the refined gasoline and diesel to be returned to Russia.
- EU May Freeze Russian Oil Cap to Block Automatic Price Hike Amid Iran War
The European Union is considering emergency adjustments to its sanctions framework to temporarily freeze the price cap on Russian crude oil, aiming to prevent an automatic increase linked to the Middle East conflict. The current EU rules automatically adjust the price cap every six months to stay 15% below the average market price of Russian Urals crude.