Georgian Association of Oil Products Importers does not expect shortage given supplies from Russia

TBILISI. March 10 (Interfax) - Georgian petroleum product supplier companies have approximately a two-week supply of fuel, and although the country lacks large storage facilities, a shortage is not expected given supplies from Russia, said Vakhtang Iobashvili, the chairman of the Association Of Oil Products Importers And Distributors.

"We have a two-week period to find something new [for importing petroleum products]. We are talking about two-week reserves, because large amounts of supplies require large oil terminals," Iobashvili was quoted as saying by the publication bpn.ge.

Georgia does not have large petroleum product storage facilities due to the high cost of their construction, he said. "Not a single company has oil terminals for large amounts of supplies, which is an expensive luxury. All oil refining companies have small reserves. Importing and storing large amounts requires a lot of money. Besides, gasoline deteriorates over time."

However, a shortage of petroleum products in Georgia should not be expected, including considering their imports from Russia, he said. "According to the U.S. Department of the Treasury, all restrictions on Russia may be lifted. Because a shortage has formed on the global oil market, and Russia will fill it," he said.

"As of today, we no longer have problems with product supplies from Russia, all structures are working. Be it railways, sea, or ports, we are ready for everything. We are also ready to buy wherever we find petroleum products cheaply. A shortage is not expected. There will be no famine on our oil market," he said.

Iobashvili also believes that the situation in Iran may stabilize soon, including in the Strait of Hormuz, "so we are in a waiting mode," he said.

According to statistics, Georgia purchased 1.8 million tonnes of petroleum products in 2025, up 13% compared to the previous year, which were worth $1.35 billion (+4%). Russia remains the largest supplier with a share of more than 40%; supplies amounted to 694,000 tonnes in 2025 (-0.6%). Romania is in second place at 306,000 tonnes (+46%), followed by Bulgaria with 264,000 tonnes (+19%), Azerbaijan with 172,000 tonnes (+30%) and Turkey with 120,700 tonnes (+37%).