Taiwan bought $1.3 billion worth of Russian oil products this year, report says

The oil terminal in Saint Petersburg, Russia, on September, 26. Olga Maltseva/AFP/Getty Images Hong Kong —

Taiwan imported $1.3 billion worth of the petroleum product naphtha from Russia in the first half of this year, more than anywhere else in the world, according to a new report.

The purchases come despite Taiwan’s opposition to Russia’s war in Ukraine and sanctions on Moscow.

It also raises concerns about the self-governing island’s economic security. China, which claims Taiwan as its territory, is a close partner of Russia, posing the risk it could lean on Moscow to cut off supplies.

Naphtha is an essential feedstock in the petrochemical industry for producing some raw materials critical for the manufacturing of electronic components and semiconductors – industries core to