TAIPEI (Taiwan News) — Taiwan denied on Thursday that any state enterprises import Russian naphtha but acknowledged that private firms do, adding that it will review the regulations.
The Finnish think tank Centre for Research on Energy and Clean Air reported on Wednesday that since February 2022, Taiwan imported NT$149 billion (US$4.9 billion) of Russian naphtha, accounting for 20% of the country's petroleum derivative exports. The Ministry of Foreign Affairs on Thursday confirmed that all state-owned enterprises stopped purchasing Russian oil in 2023.
The foreign ministry said Taiwan has long cooperated with international democratic alliances to implement strict high-tech export controls on Russia, expand the control list six times, and regulate more than 3,300 Russian military-industrial entities. Taiwan's exports of major high-tech products to Russia have returned to zero.
The Ministry of Economic Affairs conceded that light oil is not currently a regulated imported item, per CNA. It acknowledged that private businesses still purchase light oil from Russia.
The economics ministry said it will further examine the relevant regulatory measures and communicate with domestic companies. Taiwan will also cooperate with its international partners to demonstrate its resolve to oppose aggression and uphold the international order.
The Centre for Research on Energy and Clean Air noted that Taiwan’s average monthly imports of Russian naphtha surged nearly sixfold between the average in 2022 and the first six months of 2025. These imports generated enough in Mineral Extraction Tax revenues for the Kremlin to finance 170,000 Gerbera drones.
The think tank warned that dependence on Russian naphtha, used by semiconductor makers exposes Taiwan to supply risks, strained diplomatic ties, secondary sanctions, or strategic manipulation. It also leaves Taiwan vulnerable to potential US secondary tariffs above the current 20%.
Formosa Petrochemical Corporation’s Mailiao refinery accounted for 96% of Taiwan’s total Russian naphtha imports, increasing its reliance from 9% before the invasion to 90% in the first half of the year. Petrochemicals produced from naphtha at the Mailiao refinery are exported to the EU, US, and UK.
Since Russia’s full-scale invasion of Ukraine, Formosa Petrochemical Corporation has become the world’s largest known purchaser of Russian naphtha. US-sanctioned company Novatek supplied 72% of Taiwan’s Russian naphtha imports.
