The EU still imports 40% of its diesel fuel from Russia. This was expressed by EU Energy Director Paula Pinho.
He drew attention to this fact at the CERAWeek international energy conference in Houston, Texas, he writes. RIA News.
That’s a significant amount of imports, according to Pigno.
Oil sanctions against Russia came into effect on December 5, 2022: The European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU introduced price limits for shipping.
Moscow responded by banning oil supplies to foreigners from 1 February if contracts directly or indirectly provide for the use of an upper price fixing mechanism.
On 19 December, the European Council announced that the gas ceiling price in the European Union will be implemented at €180 from 15 February. If the gas price stays at €180 for three days and the difference between the TTF currency prices and the average LNG price is more than €35, a price “adjustment” mechanism can be triggered. The measure aims to protect European consumers from gas price increases.
Former analyst Natalya Milchakova estimated In early March, oil prices were in the corridor at $82-85 per barrel.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.