Turkey Looks for Alternatives After Stopping Iranian Crude Imports

A Turkish official has confirmed that the country stopped importing crude oil from Iran in May 2019 when the US ended sanction waivers. According to analysts, Turkey is expected to cover the loss of Iranian crude supply by importing oil from Iraq, Russia and Kazakhstan.

Turkey had previously appealed to the US to extend Iran’s sanction waiver beyond 1 May but this was not granted.

Turkey, however, continues to distance itself from the US-Iran issues by maintaining that it does not agree with US sanctions on Iran.

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Arslan Butt

Index & Commodity Analyst

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