Spain reduces purchases of Russian oil by about 73 percent

CORES data showed that by the end of 2022, Spain imported 698 thousand tons of Russian oil, which is about 73 percent less than in 2021.

CORES (Company of Strategic Petroleum Resources) published in a report on its website that Spain’s total fuel purchases increased by 13.2 percent to 63.59 million tons.

The report indicates that Nigeria is the main supplier of oil with a share of 12.8 percent of imports. They are followed by the USA with a share of 10.4%, Mexico with 9.6%, Brazil with 8.5% and Iraq with 8.2%. Kazakhstan exports about 5.2% of oil supplies to Spain, while Russia exports only 1.1% (up from 4.6% in 2021).

During the year, Spain significantly increased oil imports from Central and South America, increasing by 220 percent, imports from the Middle East increased by 33.9 percent and from North America by 17.1 percent, and imports from Europe and Eurasia decreased by 20 percent . .

According to CORES, Spain has stopped buying Russian oil since August last year. Other countries in the region also stopped importing Russian fuel or significantly reduced it after the European Union imposed an embargo on Russian oil supplies by sea.

The ban went into effect on 5 December. Although the EU ban does not cover pipeline supplies via the Druzhba oil pipeline, many countries in the bloc have pledged to unilaterally end it in 2023.

For example, in December last year, Russia disappeared from the list of oil exporters to Italy, although it was one of the main suppliers of raw materials to the country. During 2022, Italy imported 62.5 million tons of oil, of which 12.1 million tons were purchased from Russia (18.5 percent of the total).

Source: Lenta

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