More problems for fossil fuels supply in the EU & UK, eventuating from 5.2.23- total bans on Russian diesel imports commence.
Some diesel fuels are also used to provide electricity power, thus endangering Energy Security.
CNN 18.1.23 said"Europe is scrambling to buy diesel fuel from Russia before aban on imports comes into force in early February, but the frantic stockpiling is unlikely to prevent a new price shock for truckers, drivers and businesses.
... Imports in the fourth quarter of 2022 were up nearly 19% on the same period the previous year.
Since Russia’s invasion in February last year, the European Union has made a huge effort to wean itself off Moscow’s oil andnatural gas supplies. That has included a ban on all Russian seaborne crude oil imports, which came into force in December.
EU countries drastically reduced their imports of crude from Russia ahead of the ban, but that isn’t happening with diesel because it’s much harder to find alternative sources of the fuel.
Russia is the bloc’s biggest supplier, making up 29% of its total dieselimports last year...
Higher prices
The EU ban will tighten theglobal market for diesel, Williams said, unless Russia can successfully divert its cargoes to Latin America and Africa, regions which typically import from the United States. That would free up US barrels to be sent to Europe, plugging the gap left by Moscow, he said.
But importing diesel from suppliers further afield, including the United States andSaudi Arabia, will push up freight costs, feeding into higher consumer prices, he said.
“We are expecting diesel prices to rise in Europe. We’re expecting a spike sort of February, March time,” Williams said".
https://edition.cnn.com/2023/01/17/energy/russia-diesel-ban-prices/index.html
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