The article discusses an investigation by iFact, a Georgian non-profit organization, into the transportation of oil through Georgia. The investigation found that some ships carrying Russian oil did not know where their cargo was being taken, and captains were often unaware of the final destination. This raises suspicions that imported oil is being sold to other countries.
The article highlights the sharp rise in imports and exports of oil and petroleum products from Georgia since the war in Ukraine in 2021. According to official foreign trade data, exports to EU member states have increased by 1,465%, while globally, they have grown by approximately 440%.
iFact also explains how sanctioned oil transport companies and exporter-importer companies involved in transactions in Georgia operate. The article asks if the country of origin information can be changed, and iFact’s sources reveal that there are two ways this can happen: blending the oil or changing the documentation of its origin.
The investigation provides examples of similar schemes revealed by Bloomberg and Politico, where countries like Bulgaria have exported large quantities of oil to EU member states. Spain was one of the three countries contacted by iFact, and it responded with data showing that 99,000 tons of Georgian oil worth $49 million were imported from Georgia in 2023-2024.
Overall, the article suggests that oil produced in other countries may be being “Georgianized” before reaching Europe, and highlights the need for greater transparency and regulation in the oil trade.