U.K. Ban on Russian Oil Will Be Felt Most in Diesel Market
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The U.K. announced on Tuesday that it will ban imports of diesel from Russia as a response to the country’s invasion of Ukraine, raising the question of where the alternative supplies might come from.
In 2020, the country received about 11.6 million tons of diesel-type fuels from all destinations with almost a third of that coming from Russia, government data show. The ban is to be phased in over the rest of the year.