Taiwanese company - which is Russia's leading buyer of naphtha -agrees to stop buying the resource to "abide by EU and G7 norms"
Taiwanese company - which is Russia's leading buyer of naphtha -agrees to stop buying the resource to "abide by EU and G7 norms"
Taiwanese company agrees to stop buying Russian naphtha after environmental report
Taiwan’s Formosa Petrochemical Corporation (FPCC) has agreed to halt purchases of Russian naphtha following an investigation by several environmental organizations, which found that Taiwan had become ...
Taiwan’s Formosa Petrochemical Corporation (FPCC) has agreed to halt purchases of Russian naphtha following an investigation by several environmental organizations, which found that Taiwan had become the world’s leading importer of the resource in the first half of 2025, largely due to increased imports by FPCC. A summary of the report was previously published by The Insider.
According to a statement by the environmental group Ekozashchita! (lit. “Ecodefense!”), Taiwan’s Minister of Economic Affairs Kung Ming-hsin said that FPCC’s contracts for Russian oil are set to expire soon and that the company does not intend to renew them. He had earlier said Taiwan would “respect and abide by EU and G7 norms” and confirmed that the ministry had held talks with the company, though the results of those discussions were not disclosed.
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