That depends. Diesel, like crude oil, is sold globally, and Europe could look for new sources, such as the U.S., India or countries in the Middle East. If that goes smoothly, the impact on prices might be temporary and modest.
The EU’s top energy official, Kadri Simson, says markets have had time to adjust after the ban was announced in June. Europeans also appear to have stocked up on Russian diesel before the deadline, with imports rising last month. If the cap works as advertised, global diesel flows should reshuffle, with Europe finding new suppliers and Russian diesel finding new customers, without a major loss of supply.
“When Russian exports are constrained, for whatever reason, that would of course cause some trouble in this whole reshuffle process," said Hedi Grati, head of fuels and refining research for Europe at S&P Global Commodity Insights. “Europe would be competing with other big importers, and that would cause upward pressure on pricing.”
Source: Energy Industry News (energyindustrynews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
On Europe’s Border With Russia, Guards Combat Forbidden TradeCustoms agents in Finland work to enforce Western sanctions on exports, blocking shipments of items from luxury cars to sonar gear.
Source: WSJ - 🏆 98. / 63 Read more »
Russian Antarctic vessel docks in South Africa as green groups protestA Russian research vessel which has been prospecting for oil and natural gas in the Antarctic docked in South Africa on Saturday following protests by green campaigners who say its operations in the region violate a treaty banning mineral exploration. When do green groups not protest? läste det häromdagen Antarctica needs to melt ASAP so we can get our hands on all the natural history under there.
Source: Reuters - 🏆 2. / 97 Read more »
Russian host explodes over U.S. help for Ukraine: 'Should be on fire'Vladimir Solovyov used his radio show 'Full Contact' to slam Russia's response to Western support for Ukraine. Russians are nazis of now. This is madness that the world can’t stop them.
Source: Newsweek - 🏆 468. / 52 Read more »
Russian state TV releases video trashing U.S. Abrams tanksRussian T-90 tanks are 'significantly lighter and cheaper' than the U.S vehicles, a clip on the Russia 1 channel said. That's why they will get trashed. Imagine a lightweight boxer claiming he'll beat Mike Tyson because he's 'significantly lighter and cheaper'. What a joke. Everyone knows the Abrams is the most feared tank in the world. They've been very helpful so far /s We'll see.
Source: Newsweek - 🏆 468. / 52 Read more »
A Link to This Site Can (Technically) Land You in Russian PrisonPlus: Hive ransomware gang gets knocked offline, FBI confirms North Korea stole $100 million, and more. You mean just like when jordanbpeterson posted about his distrust of Canadian government? Or when people thought covid could have been lab leak and anyone who disagreed was a public enemy? Build your propaganda, but at least do it fairly
Source: WIREDBusiness - 🏆 68. / 68 Read more »
Russian TV discusses if economy now 'equal' to Iran, North Korea or Cuba'There's not a single country in the world with more experience existing under blockade and economic sanctions than us [Russia],' said one guest speaker. What a great achievement! Like it or lump it countries with western sanctions imposed on them are 'birds of a feather & flock together' giving the west the order of the 👆. As we have seen western countries and their allies are suffering more than Russia and they🤣 at you. North Korea.. Keep on lying Rusk.
Source: Newsweek - 🏆 468. / 52 Read more »