The European Union has clarified the meaning of the six-month grace period included in its 21st package of sanctions regarding Georgia’s Black Sea Petroleum (BSP) oil refinery in Kulevi. In response to questions from BMG, the EU sanctions department said the delay is intended to give the company time to diversify its crude oil supplies away from Russia.
“This listing of the Kulevi refinery will enter into force with a six-month delay to give the refinery time to diversify away from Russian crude oil. Following an assessment by the Commission, the Council will then decide whether it is still necessary to list the refinery,” the EU press service said.
Currently, BSP uses Russian crude oil for petroleum production, but the company stated on July 2 that it plans to fully replace Russian-origin crude with non-Russian supplies starting from August-September. According to the company, this change will allow its products to access higher-margin international markets.
Georgia imported $202 million worth of crude oil in the first half of 2026, according to official statistics. Imports of crude oil increased after BSP’s Kulevi refinery began operations at the end of last year, with more than 99% of imported crude currently coming from Russia.
