Millions of tons of Russian oil have passed through a port partly owned by Macquarie Bank and, it is believed, may have been sold to Australian companies. About this reported [[link_local link_article_id="1823542 "]] Dengi.ua [[/link_local]] with reference to material The Guardian.
It is noted that these data indicate new links between Australia and trade in Russian oil products, which emphasizes the gaps in the current system of sanctions. Unlike the EU and the UK, Australian authorities have not yet implemented such strict restrictions on Russian fuel imports.
It is reported that according to the European Center for Energy and Clean Air Research (CREA), Australia stopped direct oil purchases from Russia after the start of the full-scale invasion of Ukraine. However, more than 3 million tons of Russian-origin fuel have been imported into the country since 2023. At the same time, Australian sanctions allow purchases through third countries, which, according to CREA Europe analyst Vaibhav Raghunandan, actually helps maintain Russian oil production and replenish the Kremlin's budget.
It is also noted that official figures show that nearly a quarter of all petroleum products imported by Australia since January 2023 have come from Singapore. An analysis of trade flows carried out by chemical engineer Mark Corrigan and confirmed by CREA showed that Singapore received more than 22 million tons of refined petroleum products from Russia over the same period. About a third of this volume went through the port of Jurong, whose terminal is partly owned by the Macquarie investment fund.
According to the newspaper, Macquarie representatives said that the controlling stake in the terminal belongs to the Singaporean state and that the company operates in accordance with national and international regulations. It is also noted that the terminal applies strict inspection procedures and complies with all sanctions requirements. However, representatives of the company did not specify whether Macquarie received financial benefits from participation in the project and whether the terminal supplied Russian oil to Australia.
At the same time, the head of the Australian Federation of Ukrainian Organizations, Katerina Argyru, called on Macquarie to reconsider its investments and disclose whether the terminal facilitated the transportation of Russian oil.
"Australia cannot support Ukraine while Australian capital helps support Russia's war economy. Every drop of Russian oil sold helps fund the destruction of Ukrainian homes and lives. Australians deserve to know if their banks and investment funds are profiting from this," Argyrou said.
Earlier, government officials confirmed that Australian companies were buying oil from Indian companies actively trading with Russia. Corrigan's analysis shows that similar schemes are possible through Singapore. According to his data, the terminal in which Macquarie is involved sold fuel to companies such as Trafigura and Vitol. Trafigura received $135 million in government support in August for its steel plants in South Australia. Petroleum products from Vitol are purchased by, among others, Shell, a gas station operator, and Viva Energy, a supplier to the Australian Armed Forces.
Trafigura, Vitol and Viva Energy stated that they act strictly within the legal framework and comply with all sanctions regulations. However, they have not confirmed that there is no Russian-origin fuel in their supply chains.
It is also reported that Australian Foreign Minister Penny Wong had earlier urged businesses to ensure that their supplies do not contribute to indirectly funding the Russian government. She noted that it is difficult for the government to monitor such indirect purchases, but Australia is considering options to put further pressure on Russian oil revenues.
Meanwhile, the EU and UK have announced that they will impose sanctions on companies that process Russian crude, including individual terminals and refineries, from 2026.
According to Dr. Anton Moiseenko, a law lecturer at the Australian National University, Australia's adoption of similar measures would be an important step to reduce Russia's oil export revenues.
"It is very important to move towards this step. Otherwise [refineries] will continue to buy Russian oil, and then the oil products will go to places like Australia, and all of this will combine to create a market that brings billions to the Russian government," Moiseenko emphasized.
