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 European ban on Russian oil products infographic
Graphic shows Europe’s biggest diesel suppliers.
GN43812EN

ENERGY

Europe buys up diesel ahead of Russian import ban

January 16, 2023 - Europe is set to ban imports of all Russian petroleum products, including diesel, on Feb 5, in a move aimed at depriving Moscow of a key revenue source.

The EU imported about 220 million barrels of diesel-type product from Russia last year, according to Vortexa Ltd data compiled by Bloomberg. The fuel is vital to the bloc’s economy, powering cars, trucks, ships, construction and manufacturing equipment and more.

From Feb 5, almost all those imports will be banned in an attempt to punish Moscow for the war in Ukraine. Replacing that much Russian fuel – imagine about 14,000 Olympic-sized swimming pools all brimming with diesel – is a mighty challenge.

Some progress has already been made. In 2021, more than half of all seaborne shipments into the EU and UK – which already has a ban in place – came from Russia. By December last year, that proportion had fallen to about 40 percent, partly thanks to increases from Saudi Arabia and India, Bloomberg said.

Sources
PUBLISHED: 16/01/2023; STORY: Graphic News
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