Major global trading houses plan to cut purchases of Russian crude oil and fuel from May 15.
Here’s countries’ response to Russian oil purchases since the Ukraine war began on Feb. 24, and how companies have acted.
Comments from countries
Australia, Britain, Canada and the United States have completely banned the purchase of Russian oil, but the 27 members of the European Union have not agreed on the embargo.
The bloc is looking to ban Russian oil imports by the end of the year as part of a sixth package of sanctions against Russia.
Germany, the EU’s largest economy, said it could weather an EU embargo on Russian oil imports by the end of this year, even if a shutdown could lead to deficits.
Hungary continued to oppose any European Union embargo on Russian oil and gas imports.
However, many refineries in Europe have voluntarily stopped buying Russian crude, or have promised to do so when their long-term contracts expire.
Major global trading houses also plan to cut Russia’s purchases of crude oil and fuel from May 15.
As a result, Russian diesel exports from the Baltic port of Primorsk, an important source of supply for Europe, are expected to fall by more than 30% in May.
China and India, which have refused to condemn Russia’s actions, continue to buy Russian crude.
Below are current and past buyers of Russian crude oil (in alphabetical order):
Current buyers
Bharat Petroleum
India’s state-owned refinery Bharat Petroleum Corp Ltd has bought 2 million barrels of Russian Urals for May cargo from trader Trafigura, two people familiar with the purchase said. The company regularly buys Russian Urals for its 310,000 barrels per day (bpd) Kochi refinery in South India.
Hellenic Petroleum
Greece’s largest oil refinery relies on Russian crude oil for about 15% of its intake. Earlier this month, the company obtained additional supplies from Saudi Arabia.
Hindustan Petroleum
According to trade sources, India’s state-owned refinery bought 2 million barrels of Russian Urals last week to be loaded in May.
Indian oil company
India’s top refinery has purchased 6 million barrels of Urals since Feb. 24 and has a supply contract with Rosneft for up to 15 million barrels of Russian crude by 2022.
According to trade sources, the refinery, which also purchases crude oil on behalf of its subsidiary Chennai Petroleum, has excluded several high-sulfur crudes, including Urals, from its latest tender.
ISAB
Italy’s largest refinery, owned by Lukoil-controlled Swiss-based Litasco SA, has been forced to source almost all of its crude oil from its Russian owner because international banks have stopped lending it.
The Italian government is considering temporary nationalization of ISAB as one of its options if sanctions are imposed on Russian oil, two government sources told Reuters.
Leuna
The landlocked Leuna refinery in eastern Germany, most of which is owned by France’s TotalEnergies, is also fed with Russian crude oil through the Druzhba pipeline.
Mangalore Refinery and Petrochemical Products
The state-run Indian refinery has bought 1 million barrels of Russian Ural oil through a tender from a European trader for loading in May, a rare purchase thanks to the discount it offered.
Miro
Russian crude continues to account for about 14% of intake at Germany’s largest refinery, Miro, which is 24% owned by Rosneft.
MOL
The Hungarian oil company, which operates three refineries in Hungary and Slovakia and Croatia, continues to purchase Russian crude through the Druzhba pipeline, as well as refined products.
The company said it would take two to four years and cost between $500 million and $700 million to replace Russian oil imports in the event of a full European embargo.
Nayara Energy
The Indian private refinery, which is partially owned by Rosneft, has purchased Russian oil after a one-year hiatus, acquiring about 1.8 million barrels of Urals from Trafigura.
Neftochim Burgas
A Bulgarian refinery, owned by Russia’s Lukoil, and with Russian crude accounting for about 60% of its intake, continues to refine Russian crude.
PCK Schwedt
The German PCK Schwedt refinery, 54% owned by Rosneft, receives crude oil through the Druzhba pipeline.
pertamina
Indonesian state energy company PT Pertamina is considering buying crude oil from Russia as it seeks oil for a recently renovated refinery.
PKN Orlen
Poland’s largest refinery has stopped buying Russian crude on the spot market and is switching to North Sea oil, but is still buying Urals under previously signed contracts that expire at the end of this year or later.
The company, which operates refineries in Lithuania, Poland and the Czech Republic, saw its refining profits soar in March thanks to the discount it pays for Russian oil.
Sinope
China’s state-owned Sinopec, Asia’s largest refiner, continues to buy Russian crude under previously signed long-term contracts, but is waiving new spot deals.
Former Buyers
BP
The British oil major, who is giving up his stake in Rosneft, will not negotiate new deals with Russian entities for loading in Russian ports unless “essential to ensuring supplies”.
ENEOS
Japan’s largest refinery has stopped buying crude oil from Russia, while some shipments signed under previous agreements will arrive in Japan until about April. The company plans to source alternative supplies from the Middle East.
ENI
The energy group, which is 30.3% in the hands of the Italian government, is suspending purchases of Russian oil.
No Russian crude will be used in the German Bayernoil refinery, in which Eni and Rosneft have interests.
Equinor
The largely state-owned Norwegian energy company has stopped trading Russian oil as it shuts down its operations in the country.
GALP
The Portuguese oil and gas company has suspended all new purchases of petroleum products from Russia or Russian companies.
Glencore
The global mining and trading company, which has a 0.57% stake in Rosneft, said it would continue to honor its obligations under previously signed contracts but would “not enter into new trading activities related to commodities of Russian origin unless directed of the relevant public authorities”.
NESTE
The Finnish refinery has not bought Russian crude on the spot market since the start of the war and has no plans to close any new deals when its existing long-term supply contract expires in July. As of early April, the refinery has replaced about 85% of Russia’s crude with other crudes.
ABOUT PETROM
Romania’s largest oil and gas company, controlled by Austria’s OMV, has said it is preparing to phase out Russian crude imports, which account for about 30% of the annual needs of its Petrobrazi refinery.
PREEM
Sweden’s largest refinery, owned by Saudi billionaire Mohammed Hussein al-Amoudi, has “paused” new orders of Russian crude, which accounted for about 7% of its purchases, and replaced it with barrels from the North Sea.
Repsol
The Spanish company has stopped buying Russian crude oil on the spot market.
Shell
The world’s largest petroleum trader has stopped buying Russian crude, saying on April 27 it would no longer accept refined products with Russian contents, including blended fuels.
Trafigura
The Geneva-based global commodities trader plans to halt all purchases of crude oil from Rosneft by May 15, when stricter EU rules on the sale of Russian oil come into effect, and the volume of refined products it buys from Rosneft decreases. “significantly” to be reduced.
Total energy
The French oil company has said it will no longer enter into or renew existing contracts for the purchase of Russian crude oil and petroleum products, with the aim of ending all purchases by the end of 2022.
The contracts mainly relate to supplies to the Leuna refinery in East Germany, which receives Russian crude oil through the Druzhba pipeline, as well as the gas oil supply in Europe.
Varo Energy
The Swiss refinery, which owns 51.4% of Germany’s Bayernoil refinery, has said it has no plans to negotiate new deals to buy Russian crude.
