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Taiwan's Naphtha Imports from Russia Surge 500%

10/3/2025

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Summary

Story summary

Taiwan became the largest buyer of Russian naphtha, with imports up nearly 500% since 2022.
Taiwanese firms imported NT$149 billion (US$4.9 billion) of Russian naphtha, about 20% of exports.
The Ministry of Foreign Affairs confirmed state-owned enterprises stopped buying Russian oil in 2023.
Formosa Petrochemical Corporation accounted for 96% of Taiwan's Russian naphtha imports, up from 9% to 90% post-invasion.

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Story summary

Taiwan became the largest buyer of Russian naphtha, with imports up nearly 500% since 2022.
Taiwanese firms imported NT$149 billion (US$4.9 billion) of Russian naphtha, about 20% of exports.
The Ministry of Foreign Affairs confirmed state-owned enterprises stopped buying Russian oil in 2023.
Formosa Petrochemical Corporation accounted for 96% of Taiwan's Russian naphtha imports, up from 9% to 90% post-invasion.