Russian

imports to Singapore nearly tripled in the first quarter of 2023, after the European Union banned imports of petroleum products from Russia.

This is reported by

.

The Asian oil hub imported 741,000 tonnes of Russian oil during the period, accounting for about 23% of Singapore's total petroleum product imports.

That was up from about 261,000 tonnes imported in the fourth quarter of last year, according to the data.

The EU has banned the import of Russian oil products since February 5, and the Group of Seven nations, the EU and Australia have imposed a $45 cap on trade in Russian oil using Western vessels and insurance.

Singapore's total exports of the oil, which can be used to blend gasoline and is a key ingredient in products such as plastics and paints, rose to 946,000 tonnes in the first quarter of this year, up 26% from the fourth quarter of 2022.

Key buyers of oil products from Singapore are South Korea, China, Taiwan and Japan.

It will be recalled that it was previously reported that due to the anti-Russian sanctions imposed after the invasion of Ukraine,

, which can lead to a serious environmental disaster.

In addition, we previously informed that US President Joe Biden, in a conversation with the head of the European Commission, Ursula von der Leyen, stated that there is

.

Read also:

• Russia uses two schemes to circumvent sanctions: one is legal, and the second and main one is not

• Germany almost completely stopped buying Russian oil after the introduction of the embargo

• Saudi Arabia will raise oil prices for Asia and Europe in April - media

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