The largest Romanian oil and gas company OMV Petrom no longer buys crude oil for its refineries in Romania from Russia.
The statement from the company said that even if it is going to be more expensive, OMV Petrom will seek to buy crude oil from other sources.
By its decision, OMV Petrom follows a trend of an informal ban on Russian oil that will probably soon become formal in the EU, after such a ban was enacted in the United States, United Kingdom, Canada and Australia. While sanctions on Russian natural gas are unlikely at this point because of the economic damage they would cause, Europe could better withstand an embargo on Russian oil.
Member of OMV Petrom’s Board Radu Caprau said that all purchases are made through our London office (OMV Trading), adding that the company is looking to north and west Africa for crude oil supply, as well as ex-Soviet countries like Kazakhstan.