Finland replaced Russian oil with supplies from Norway, Britain and the US

Finland, which was among the EU countries most dependent on Russian oil, stopped importing Russian Urals crude last year and increased supplies from Norway, Britain and the United States. Reuters reported this today, citing data from Refinitiv Eikon.

EU countries banned all seaborne oil imports from the Russian Federation from 5 December last year, but a number of states had already limited purchases following Moscow’s invasion of Ukraine. Finland received its last cargo of Urals crude in July 2022, ending its purchases of Russian oil, including under long-term contracts, according to the annual report of the country’s sole state-owned refinery, Neste Oil.

Last year, 1,5 million tonnes of Russian oil accounted for only 17 percent of Finland’s oil imports, while Russian supplies made up 84 percent of the country’s imports of the commodity in 2021. Supplies from Norway more than quadrupled last year to 5,7 million tonnes, accounting for 65 percent of the total volume.