Nigerian group urges U.S. to sanction NNPCL over Russian oil
A group of concerned Nigerian citizens has approached the U.S. government requesting sanctions on the state-owned Nigerian National Petroleum Company Limited (NNPCL) and its CEO, Mele Kyari, for violating international restrictions imposed on Russian oil.
In a letter sent on Thursday to the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), the Nigerian group stated that NNPCL imports Russian crude oil and oil products above the price cap set by the U.S., EU, and Australia, which is $60 per barrel.
As they signed the petition, the Concerned Citizens for Economic Reforms of Nigeria (CCERN) informed the U.S. that the state-owned company mixes oil products from various sources with Russian oil purchased above the $60 per barrel limit in Malta, violating existing sanctions.
They calculated that Russia earned over CAD $2.7 billion from these transactions in a year, "which allows it to gain significant revenue to finance the war machinery used against Ukraine."
Nigerians' interest in oil transactions stemmed from their desire to understand why gasoline prices at Nigerian stations are so high and whether they are paying more for gasoline than international reference prices, considering the country currently relies on importing this product.
The letter expresses concern that the revenues from these illegal activities are also being used to promote Russian influence in West Africa and fund anti-Western protests there, which "threatens to drag the region into conflicts that could undermine the interests of Nigerians and the United States."
Bought more oil from russia than China
India set a record for importing oil from Russia. In July, it averaged 2 million barrels per day, an increase of 12% compared to the previous year. Meanwhile, according to Reuters, China imported 1.76 million barrels per day during the same period.
Russian crude oil accounted for 44% of India's total imports last month. By comparison, in 2021, before Russia's full-scale war against Ukraine, Russian oil made up just 2% of the annual imports.
After Moscow launched its full-scale war against Ukraine in February 2022, India and China became key markets for Russian raw materials sanctioned mainly by the EU and the U.S. These restrictions aimed to cut off funding for Russia's war efforts. Despite pressure from the U.S. and Europe, both countries refused to comply with the Western sanctions imposed on Russian imports.
