Platts seeks feedback on European import ban on refined oil products derived from Russian crude for European oil product assessments

Platts, part of S&P Global Commodity Insights, seeks immediate feedback on the exclusion of refined oil products derived from Russian crude in its European oil product assessments.

This follows EU Council Regulation 2025/1494 (the EU 18thpackage of sanctions against Russia), and exemptions therein, adopted July 18, 2025, which Platts understands will be with effect from Jan. 21, 2026.

To help bring additional transparency and clarity to the market, Platts is seeking feedback on the following:

1. Timelines for the exclusion of oil products refined from Russian crude oil in European refined product assessments
2. Whether Platts should no longer reflect products derived from Russian crude in all refined product assessments, irrespective of CN codes
3. Applicable performance guidelines for trades reported in the Platts Market on Close assessment process

Timeline for exclusion of oil products derived from Russian crude

In particular, Platts seeks immediate feedback on the following options:

• Exclusion of refined oil products derived from Russian crude oil from all European refined product barge and cargo price assessments with effect from Dec. 15, 2025;
• Alternatively, to set no additional timeline, with the typical expectation that commodities supplied from countries or entities that are subject to applicable trading embargoes and sanctions should not be delivered against transactions concluded during MOC assessment processes.

Platts' expectations on embargoed and sanctioned products, applicable at all times, can be found on page eight of its Platts Assessments Methodology Guide, available here.

Platts understands that, at the time of publication, the UK has not announced a deadline for an import ban on oil products refined in third countries from Russian-origin crude oil to come into effect. Platts' assessments basis UK and bids and offers for UK ports within European refined product price assessments would follow the same timelines on the exclusion of products derived from Russian crude as Platts' European refined product assessments.

CN codes

Platts understands that Regulation 2025/1494 applies only to petroleum products classified as CN code 2710 which are produced using Russian origin crude oil (CN code 2709 00).

Platts seeks feedback on whether to exclude product refined from Russian crude in third countries universally across all its European refined product assessments, irrespective of CN codes.

Performance guidelines for oil products MOC trades

Under Platts assessment guidelines, commodities supplied from countries or entities that are subject to applicable trading embargoes and sanctions should not be delivered against transactions concluded during the MOC.

Bids and offers that contain statements regarding specific terms related to origin restrictions will be reviewed by Platts for publication and may be subject to value normalization.

Counterparties are expected to perform on trades reported in the MOC based on typical terms that have been applied and accepted in the open market.

When offering in the MOC, a seller would be expected to meet the buyer's typical and reasonable terms around origin restrictions and evidence requirements.

Platts understands typical evidence requirements could include:

• A refinery attestation from the source refinery confirming that no Russian crude has been received or processed in the 'production line' over the past 60 days prior to the bill of lading date of the cargo at issue
• Sufficient vessel tracking data demonstrating the discharge date of the most recent cargo of Russian crude to the source refinery
• The cargo Bill of Lading
• Certificate of Origin (COO)

Upon expression of interest to trade, the buyer should promptly communicate to the seller the expectations around origin restrictions and evidence requirements.

Platts seeks feedback on the additional reasonable and typical methods of demonstration of the origin of the cargo that may be typically employed by market participants. Please send all feedback to Europe_Products@spglobal.com, with a cc to PriceGroup@spglobal.com by end of day Nov. 21, 2025.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.