Australia found a loophole to import Russion oil

From the Guardian:

"‘Loophole’ in sanctions allowing Russian oil to be imported to Australia through port part-owned by Macquarie Bank

Luca Ittimani, 9 Nov 2025

Millions of tonnes of Russian oil have been traded through a port part-owned by Macquarie Bank and potentially sold on to Australian businesses, new data shows.

The identification of a new link between Australia and the trade in Russian-origin products exposes further gaps in government sanctions, as Australia lags behind the EU and the UK in tightening import rules.

Australia stopped buying fuel directly from Russia after its invasion of Ukraine but has imported more than 3m tonnes of Russian-originating oil products since 2023, the Europe-based Centre for Research on Energy and Clean Air (Crea) has found.

Australia’s sanctions allow purchases via third countries, which Crea’s Europe analyst Vaibhav Raghunandan said had indirectly supported Russia’s oil production and the Kremlin’s tax revenues.

“This is a significant loophole being exploited by Australian buyers who, while on the right side of the law, are undoubtedly on the wrong side of the ethics of it,” Raghunandan said.

“It clearly undermines Australia’s support for Ukraine. It not only allows the continued flow of Russian oil but also allows Australian companies to profit off it.”...

Kateryna Argyrou, chair of the Australian Federation of Ukrainian Organisations, called on Macquarie Bank to review its investment and disclose whether the terminal had facilitated the handling of Russian oil.

“Australia cannot stand with Ukraine while Australian capital helps sustain Russia’s war economy,” Argyrou said.

“Every drop of Russian oil sold helps finance the destruction of Ukrainian homes and lives. Australians deserve to know whether their banks and investment funds are profiting from that.”... 

The European Union and United Kingdom in October announced sanctions on third-party refiners of Russian material from 2026, including by targeting specific terminals and refineries.

Matching those sanctions would be essential to reduce oil revenue to the Kremlin, according to Dr Anton Moiseienko, a senior lecturer in law at the Australian National University.

“It’s really important to move towards that step,” he said.

“Otherwise [refineries] … keep purchasing Russian oil, and then refined products go to places like Australia, and all of that combines to create a market that generates billions for the Russian government.”"