Turkey multiplies oil purchase sources after U.S. sanctions on Iran
Ankara (Turkey), June 12 (Xinhua-ANI): Turkey is making efforts to multiply its oil purchase sources as it reduces oil imports from Iran, Turkey's semi-official Anatolia News Agency reported on Tuesday.
Turkish Petroleum Refineries Company (TUPRAS) has reached an agreement with Libya on purchase of 1 million tonnes of crude oil from the post-conflict country, Turkey's Minister of Energy and Natural Resources Taner Yildiz was quoted as saying.
TUPRAS's agreement with Libya came after the company's recent decision to reduce the amount of Iranian crude oil imports by 20 percent, Yildiz said, claiming the U.S. sanctions on Iran were not legally binding for Turkey.
Meanwhile, Yildiz stressed that the United States was a strategic partner of Turkey and Turkey's priority was to purchase cheaper energy resources.
Also, TUPRAS is holding talks with Saudi Arabia for a long term supply of crude oil, according to Yildiz.
U.S. President Barack Obama signed a bill at the end of 2011, expanding U.S. sanctions against Iran to cover its central bank and financial sector, a move that allows penalties on foreign banks that settle oil imports with the Iranian central bank.
In a statement released on Monday, the U.S. State Department said it will exempt seven economies, Turkey included, from the Iran oil sanctions, because they "have all significantly reduced their volume of crude oil purchases from Iran," media reports said. (Xinhua-ANI)
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