Elena Buturlim18:59, 02.01.24
Companies have a line of credit that allows them to buy fuel and pay later.
The owner of one of the UK’s largest oil refineries has a line of credit with a division of an oil company founded and partly run by a sanctioned Russian billionaire , The Guardian writes .
It is noted that Essar Oil (UK), which owns and operates the Stanlow oil refinery in the port of Ellesmere, has stopped all imports of Russian fuel in 2022. However, records show that the company has a line of credit with Litasco, a unit of Moscow-based Lukoil, Russia’s second-largest oil company. Litasco itself is not subject to sanctions.
According to journalists, Essar Oil (UK) is part of the Essar group, owned by Indian billionaires the Ruia brothers. Has an “extended payment line” for crude oil with Litasco worth $500 million. The two-year agreement expired in May 2023 but was extended until June 2024. The deal is actually a line of credit allowing Essar to buy fuel and pay later.
“Litasco is wholly owned by Lukoil, whose founder and 8.5% shareholder Vagit Alekperov was sanctioned by the UK in April 2022. Lukoil is sanctioned in the US, but not in the UK or EU, and Litasco is not sanctioned by either in one of the jurisdictions. Alekperov left his post as director of Lukoil shortly after he came under sanctions, but remains a shareholder,” the publication writes.
It also states that Senegalese oil company Le Mond Oil & Gas Africa argued that Litasco should be treated as if it were sanctioned because it was under the control of Alekperov or Vladimir Putin. However, a British court decided in November 2023 that neither Litasco nor Lukoil could be considered controlled by a sanctioned person.
Anti-Russian sanctions
Against the backdrop of massive anti-Russian sanctions imposed in connection with the Russian invasion of Ukraine, the Bulgarian government took control of the Rosenets oil terminal from the Russian company Lukoil.
Earlier, UNIAN wrote that the Russian oil company Lukoil will stop exports from its Caspian oil fields via the Baku-Tbilisi-Ceyhan pipeline. It is noted that this decision was made due to Western sanctions.
(C)UNIAN 2024
Lukoil still have petrol stations in Holland. There is one in the village where I live.
Many Western companies helped finance those recent attacks on Ukraine and others in the past, and will help those in the future. This goes to show you how depraved and greedy human beings can be, even those who have more than enough money already.