Starting Sunday, the EU will prohibit imports of Russian gasoline, diesel and other products from Russian refineries used throughout Europe.
The new EU ban will apply to anything produced from Russian crude oil, says Richard Bronze, head of geopolitics at Energy Aspects, a consultancy in London.
Last year, Europe imported about 700,000 barrels per day of Russian diesel — around half its total imports of the fuel, according to market analysts.Matteo Ilardo, a London-based geopolitical analyst with the risk intelligence firm RANE, says the ban will have an impact for Europeans. He points to France's heavy reliance on Russian diesel."France usually imports around 20% of total seaborne diesel exports from Russia.
"Those could be in East Africa, in Asia, they could be in Latin America," Grati says."What you're looking at is one great big reshuffle to get desirable barrels to Europe, and then barrels deemed undesirable from Russia to those other markets."
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