Georgia to Stop Purchasing Russian Oil

Georgia's only oil refinery, Black Sea Petroleum (BSP), located in the port of Kulevi, will completely cease processing Russian oil. According to BSP CEO David Potskhveria, the company intends to replace Russian crude with oil from Turkmenistan, and then from Kazakhstan.

The company's CEO noted that this will allow BSP to export petroleum products to the European market, where a ban on imports of Russian crude is in effect.

"The company's main strategic goal is the European market. Despite previously reached agreements to supply Turkmen oil via Azerbaijan, the start of rail transit is still delayed. BSP expects the logistics chain to be established soon," Potskhveria noted.

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