Beating the Russian products ban

Legal and illegal efforts to skirt the prohibition are likely to intensify—especially in Turkey, the Balkans and Eastern Europe

Smugglers are gearing up for a race against law enforcement officials following the introduction of the EU ban on Russia-sourced refined products on 5 February. Yet experts say that there are enough loopholes in the embargo for the big players, such as the Russian government, not to need to rely excessively on smugglers—at least, for the time being. “We are looking closely at Russian exports, particularly of diesel, to work out how the new world is going to look after 5 February,” says Kevin Wright, senior oil analyst at UK-based data analytics firm Kpler. “Russian exports have hit record highs in the past few months as sellers and traders look to maximise volumes ahead of the EU27 embargo.”