◢ Azerbaijan’s state oil company is turning to Russia to supply a new $6.3 billion refinery it built in Turkey because shipments from one of its preferred suppliers—Iran—are off the table due to U.S. sanctions. “If there were no restrictions, we would buy Iranian crude,” he said, adding that the refinery can purchase oil from anywhere “as long as our model supports it,” although in practice Azerbaijan’s own light crude isn’t really suitable.