BRUSSELS — The European Union’s anti-fraud office, OLAF, has opened an investigation into a loophole allowing countries like Turkey to export sanctioned Russian oil to the bloc under a different label, according to two people familiar with the matter.
The probe comes after POLITICO revealed that millions of barrels of Moscow’s fuel were likely arriving in the bloc after being rebranded in Turkey, despite its ban on such Russian imports.
The scheme is possible because of a workaround in Brussels sanctions that allows “blended” fuels into the EU if they’re labeled as non-Russian.
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.