European countries ban buying diesel from Russia
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The embargo on Russian diesel has been imposed along with a ceiling on petroleum products. Seven friendly countries had agreed on the ceiling price of diesel. However, this price limit will not affect Russia’s economic interests much in the short term. This is because Russia is currently supplying diesel at more or less the same level.
European countries stepped up their economic blockade of Ukraine to attack Russia on Sunday, imposing sanctions on diesel and other refined oil products. The embargo on Russian diesel has been imposed along with a ceiling on petroleum products. Seven friendly countries had agreed on the ceiling price of diesel. However, this price limit will not affect Russia’s economic interests much in the short term. This is because Russia is currently supplying diesel at more or less the same level.
But after the ban of European countries, it will be very difficult for him to find customers for diesel. In order to economically isolate Russia, which attacked Ukraine in February last year, the US and European countries have imposed several sanctions on it. The ban on diesel by European countries is the next step taken in this direction.
The objective behind this restriction and price cap is that Russia does not get the benefit of any increase in the prices of refined oil products. European Union officials said the ban was announced in June, so countries importing oil from Russia had enough time. In December, before the ban took effect, Russia earned $2 billion from diesel supplies to European countries. European countries have already embargoed coal and most of the crude oil from Russia. At the same time, Russia has greatly limited the supply of natural gas to Europe as a countermeasure.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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