A recent investigation by the Wall Street Journal revealed this month that there is a loophole that is allowing banned Russian crude to reach the U.S. market. If sanctioned Russian oil is processed in a refinery in a country outside of Russia, it becomes a product of that country. In this case, Russia’s second-largest oil and gas company, Lukoil, is processing Russian crude in its Italian refinery and exporting it to the U.
S. to be bought by companies, such as ExxonMobil, without violating any sanctions. Most of the crude being processed…How Russian Crude Makes Its Way To The U.S. Through A Loophole
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