The UK's 'The Guardian' reported that Taiwan has become the largest buyer of Russian naphtha. According to a report released on the 1st, since February 2022, Taiwan has imported Russian naphtha worth a total of US$4.9 billion (20.632 billion ringgit), accounting for 20% of Russia's naphtha exports.
Based on this report, 'The Guardian' pointed out that in the first half of this year, Taiwan imported Russian naphtha valued at US$1.3 billion (5.474 billion ringgit), with the average monthly import volume nearly six times that of 2022. Compared to the first half of last year, Taiwan's naphtha imports have increased by 44% this year.
This report was released on the 1st by Finnish think tank 'Centre for Research on Energy and Clean Air', in collaboration with NGOs from Europe, Russia, and Taiwan, presenting these investigative results.
Since February 2022, Taiwan has imported 6.8 million tons of naphtha from Russia, totaling US$4.9 billion, accounting for 20% of Russia's naphtha exports.
The report noted that Russia relies on energy export revenues to continue the war, including billions of US dollars from Taiwan.
Naphtha is a crude oil product and a raw material for chemicals required in semiconductor and electronic component manufacturing. Semiconductor and electronic component manufacturing are key pillars of Taiwan’s economy and are crucial to global industries.