Turkey Eyes Energy Hub Role ...Middle East

OILPRICE - Economy
Turkey Eyes Energy Hub Role
Turkey continues to be a key beneficiary of Russia’s war on Ukraine. It’s not just eyeing coveted status as a ‘European hub’ for Russian gas, it’s also raking in big bucks from refining rerouted Russian oil and safe-havened oligarch cash. Since Russia invaded Ukraine in February, Turkey has significantly increased its imports of Russian crude oil, which it then processes and exports as refined oil products to the EU and the US. We’ve seen the biggest spike in the past two months, as the EU ban on seaborne Russian…

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