The loophole generated up to €3 billion for Moscow from three Turkish ports alone in the 12 months after the EU sanctioned Russian oil imports in February 2023.
The practice showcases the creative ways in which Russia circumvents EU sanctions and protects its fossil fuel trade, which makes up almost half of the Kremlin’s revenues. Last year, POLITICO revealed that Moscow gained another €1 billion from a separate EU sanctions loophole in Bulgaria.
The probe also comes as relations sour between Brussels and Ankara over its Russian overtures — even as Turkey makes minor moves to align with United States sanctions.
OLAF did not immediately respond to a request for comment.