MOSCOW, Apr 8 (PRIME) -- Shell continues to buy Russian oil if it is mixed with oil delivered from other states, Bloomberg reported on Friday citing the contracts.
According to the newswire, the traders call the oil blend Latvian, because it is mixed in the Latvian port of Ventspils. In technical terms, oil is not registered as Russian in the contracts, if content of Russian oil in the mixture amounts for less than 50.01%.
Oil purchases under this procedure are legal, because there is no E.U.-wide embargo on it so far.
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