Cost of Living
Huge Sanctions Are Looming for the Fuel That Powers the World
- Russian fuel price cap set to be implemented from Feb. 5
- India to refine Russian crude and send it back to EU as diesel
A 'Sorry, out of use' sign on a diesel fuel pump at a gas station in London.
Photographer: Chris Ratcliffe/Bloomberg
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An unprecedented chunk of the global diesel market, the workhorse fuel of the global economy, is just weeks away from being subject to aggressive sanctions.