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Symbolism of oil embargoes: Where does Israel import its oil from?
News Bulletin Reports
2023-11-05 | 13:00
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Symbolism of oil embargoes: Where does Israel import its oil from?
Hezbollah's Secretary-General Sayyed Hassan Nasrallah urged Arab and Islamic nations to halt oil exports to Israel.
This call comes in response to similar appeals in recent times, demanding oil-producing Arab and Islamic countries impose an oil embargo on Israel due to its war on Gaza.
However, does Israel rely on oil from these nations in the first place?
While Israel possesses sufficient natural gas resources, it imports almost all of its oil-related products, approximately 220,000 barrels per day, according to Bloomberg.
So, where does Israel import its oil from?
More than 60% come from Kazakhstan and Azerbaijan, with significant Muslim populations. The rest comes from West African countries like Gabon and Nigeria, Brazil, and a smaller portion from Egypt.
Israel does not import oil from major Arab producers such as Saudi Arabia, the United Arab Emirates, or Iran.
Based on these numbers, for an oil embargo to impact Tel Aviv, Kazakhstan, and Azerbaijan would have to cease oil exports to Israel or countries serving as transit points, like Turkey for Azerbaijani oil (through the Ceyhan port) and Russia for most of Kazakhstan's oil (via the Novorossiysk port in the Black Sea).
However, this scenario remains highly unlikely.
Politically, Azerbaijan is one of the Islamic nations closest to Israel and a significant importer of Israeli weapons. Meanwhile, Kazakhstan has recently improved its relations with Western countries following Russia's war in Ukraine.
Economically, at a time when oil is a significant driver of global wars, no country is willing to forgo its market and revenue. Israel has the capacity to compensate for shortfalls from diverse other nations from which it imports oil.
Furthermore, Israel can turn to its primary ally, the United States, which is among the world's largest oil suppliers.
Therefore, the significance of an oil embargo on Israel lies not so much in its economic impact but in the symbolic stance it represents.
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