Russian Diesel Halt Is Still Looking Like Europe’s Big Problem
- Europe’s imports on course to stay high after October surge
- Russia is still by far the region’s biggest diesel supplier
From Feb. 5, EU sanctions will all but cut-off seaborne imports of diesel .
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Europe continues to lean heavily on Russia as a source of diesel with fewer than ten weeks to go until sanctions all but block the trade -- a stark reminder of the work that still needs to be done to find new supplies.
The European Union and UK received almost half their waterborne imports of diesel-type fuel from Russia in the first 24 days of this month, Vortexa Ltd. data compiled by Bloomberg show. The level of reliance jumped sharply from October, when the region’s overall imports surged to cope with strikes that knocked out French oil refining capacity.