Key facts
- Kulevi Oil Refinery will stop processing Russian crude oil.
- The halt in Russian crude processing is scheduled for August-September.
- The refinery aims to access higher-margin markets.
- The decision aligns with EU sanctions.
- The refinery plans to diversify its supply sources.
Georgia's only full-cycle refinery, Kulevi Oil Refinery, is set to halt its processing of Russian crude oil. The cessation of Russian crude imports is scheduled to begin in August or September. This strategic decision is motivated by the refinery's objective to access markets offering higher profit margins. The move also brings the refinery into compliance with European Union sanctions targeting Russian energy products. By ceasing Russian crude imports, Kulevi Oil Refinery intends to diversify its sources of crude oil supply. This diversification is expected to enhance the refinery's operational flexibility and profitability.