ROME, May 21 (NNN-AGENCIES) – Italy is importing three times more oil from Russia than it did, before the start of the conflict between Russia and Ukraine, according to news reports. <\/p>\n\n\n\n
A story, published in the Financial Times reported that, Italy had quadrupled the amount of Russian crude oil it imports to 450,000 barrels per day.<\/p>\n\n\n\n
The dramatic increase is due to a distorting impact of sanctions against Russia, the report said.<\/p>\n\n\n\n
The developments are based around the ISAB oil refinery, on the southern Italian island of Sicily, which is owned by Moscow-based Lukoil.<\/p>\n\n\n\n
Because of sanctions, ISAB is unable to obtain lines of credit for purchases from other crude oil producers, meaning, the refinery must rely entirely on supplies from Lukoil.<\/p>\n\n\n\n
“It’s paradoxical because the European Union wanted to penalise Russian energy imports, but here they have actually been incentivised by the sanctions,” said Alessandro Tripoli, general-secretary for southern Sicily, with the Federation for Energy, Fashion, Chemistry, and related workers, which is part of the CISL trade union.<\/p>\n\n\n\n
According to commodity data company, Kpler, the dramatic increase means Italy is on the verge of surpassing the Netherlands, as the European Union’s biggest importer of Russian crude oil.<\/p>\n\n\n\n
Earlier this month, the European Union vowed to end imports of Russian crude oil, to most member states, including Italy, by the end of this year.– NNN-AGENCIES <\/p>\n","protected":false},"excerpt":{"rendered":"
ROME, May 21 (NNN-AGENCIES) – Italy is importing three times more oil from Russia than it did, before the start of the conflict between Russia and Ukraine, according to news reports. A story, published in the Financial Times reported that, Italy had quadrupled the amount of Russian crude oil it imports to 450,000 barrels per […]<\/p>\n","protected":false},"author":10,"featured_media":176474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[300,209,286],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/176471"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=176471"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/176471\/revisions"}],"predecessor-version":[{"id":176472,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/176471\/revisions\/176472"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/176474"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=176471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=176471"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=176471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}