Ankara: Trkiye has significantly reduced its imports of Russian oil following an increase in drone attacks on ships navigating the Black Sea. This decision comes as Ukraine intensifies its assaults on Russian terminals, prompting disruptions in oil exports.

According to National Iraqi News Agency, data published by the Oil Exchanges Group reveals that Trkiye curtailed its oil purchases from Russian ports in July. It is anticipated that further reductions will occur in August due to the escalating attacks. These military actions by Ukraine have caused a week-long suspension of exports from the Union of Caspian Pipelines terminal and affected loading operations at the port of Novorossiysk. Consequently, oil loadings from the Caspian Pipelines fell by a fifth in July.

Moreover, Trkiye expressed concerns over the attacks on Russian-linked oil tankers near its territorial waters, highlighting the risks posed to navigation and commerce in the region. Official statistics indicate that Trkiye received approximately 900,000 tons of oil from Russian ports in July, a decrease from 1.2 million tons recorded in June.

Data from the London Stock Exchange Group further underscores the decline, noting that just over 300,000 tons of oil came from the Black Sea in July, a significant drop from the 600,000 tons in June. The London Stock Exchange Group also projects that Trkiye will receive around 200,000 tons of oil from Russian Black Sea ports in August.

Amid these challenges, traders report that Trkiye is actively seeking to diversify its oil supply sources. In a noteworthy move, Ankara plans to import oil from Brazil in August, a rare shift in its procurement strategy. Meanwhile, disruptions in shipments via the Caspian Pipeline Union, which carries a notable share of the world’s oil from Kazakhstan to Russia’s Black Sea coast, have compounded the impact of supply issues related to the ongoing US-Israeli conflict with Iran.