'Secretive' UAE and Swiss-based firms found to be major crude suppliers to Israel, says report

What Happened

A report by Oil Change International (OCI) and the Centre for Research on Multinational Corporations (SOMO) identified Swiss-based Vitol and Dubai-based Heritage Petroleum FZCO as major suppliers of crude oil to Israel. Between October 2023 and June 2026, these firms collectively exported approximately 22 million barrels to Israel, accounting for 11 percent of the country's total crude imports. The report, which utilized shipping data from Kpler and satellite imagery of the port of Ashkelon, alleges that these companies utilized the Turkish port of Ceyhan to facilitate shipments despite a Turkish trade embargo against Israel imposed on May 2, 2024. A Turkish foreign ministry source stated that vessels departing Ceyhan are not authorized for delivery to Israel, suggesting that cargo ownership may be transferred to third parties while in transit.

Key Actors

Why It Matters

The findings highlight the role of opaque, private-sector oil traders in maintaining energy supplies to Israel during the ongoing conflict in Gaza, potentially circumventing state-level trade restrictions. The reliance on the Baku-Tbilisi-Ceyhan (BTC) pipeline and Turkish ports for these shipments underscores the complexity of enforcing trade embargoes when cargo ownership is transferred to third-party buyers during transit.

Watch For

Monitor for potential regulatory or legal scrutiny regarding the identified trading firms and further diplomatic clarifications from the Turkish government regarding the transit of oil through the Ceyhan terminal. Additionally, watch for any updates to international trade compliance policies concerning the supply of energy resources to Israel.