Italy has become the only country in Europe to increase Russian crude oil imports in an unintended consequence of European Union sanctions against RussiaMILAN -- Even as the European Union decided to reduce Russian crude oil imports by 90% by the end of the year, Italy has become the only country in Europe to increase them, an unintended consequence of EU sanctions against Russia. Ships continue to arrive at the port-side refinery with crude oil from the Russian parent company. Italy in May received about 400,000 barrels of Russian oil a day in May, four times the pre-invasion levels, according to the Kpler commodity data company. “Italy is the only country in Europe increasing oil imports,’’ Villa said, going from the sixth-largest importer of Russian oil to the the largest in the three months since the invasion. The plant and related activities generate half of the provincial gross domestic product and 8% of the region’s economic activity, processing one-fifth of Italy’s crude oil imports.

Source: ABC News June 02, 2022 04:30 UTC