Russia sold 22% more diesel fuel to Europe in July than in the same period in 2021.
It is noteworthy that the European side increased its purchases to 700 thousand barrels per day.
And the Financial Times pointed out about this, citing data from the analytical company Vortexa, that the European Union plans to abandon Russian diesel fuel by February 2023.
Vortexa’s chief economist, David Fish, noted that the EU is currently very far from its target and it is not certain that the ban will be implemented.
In recent years, Russia has taken over half of Europe’s diesel fuel, and the region’s dependence on Russian supplies has only increased.
Winch believes Europe’s plans can only be realized if refineries in the United States, which mostly produce gasoline, are redirected to produce enough diesel.