TAIPEI (Taiwan News) — Economy Minister Kung Ming-hsin (龔明鑫) said Taiwan’s private oil refiners are prepared to stop buying Russian naphtha if the EU calls for it, Reuters reported Wednesday.

“We will respect and abide by EU and G7 norms,” Kung said. “If the EU says next year, no more purchases, then they we will make no more purchases.”

Naphtha is a flammable liquid mixture of hydrocarbons made from crude oil. It is mixed with other chemicals to create gasoline.

Taiwan joined Western allies in imposing sanctions on Russia after its 2022 invasion of Ukraine but did not ban Russian energy imports. While state-owned enterprises stopped buying Russian oil last year, private companies remain free to source petrochemical feedstocks.

A coalition of non-government organizations, including the Center for Research on Energy and Clean Air, last week criticized Taiwan’s ongoing imports of Russian naphtha. Kung told lawmakers he spoke with Formosa Petrochemical Corp. and the EU, saying the company had shown willingness to comply with future restrictions.

Formosa Petrochemical, Asia’s largest naphtha importer, declined to comment on the government’s statement. A company spokesperson said Russian naphtha remains one of the cheapest sources on the market, helping offset losses amid a global petrochemical downturn.

According to data firm Kpler, Taiwan has imported an average of 75,000 barrels per day of Russian naphtha so far this year, up from 71,000 barrels per day last year.