FILE - A fuel trucks drives along a highway in Frankfurt, Germany, Jan. 27, 2023. European Union governments tentatively agreed Friday Feb. 3, 2023, to set a $100-per-barrel price cap on sales of Russian diesel to coincide with an EU embargo on the fuel — steps aimed at ending the bloc's energy dependence on Russia and limiting the money Moscow makes to fund its war in Ukraine. (AP Photo/Michael Probst, File)
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FILE - A fuel trucks drives along a highway in Frankfurt, Germany, Jan. 27, 2023. European Union governments tentatively agreed Friday Feb. 3, 2023, to set a $100-per-barrel price cap on sales of Russian diesel to coincide with an EU embargo on the fuel — steps aimed at ending the bloc's energy dependence on Russia and limiting the money Moscow makes to fund its war in Ukraine. (AP Photo/Michael Probst, File)
FRANKFURT, Germany (AP) — Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin’s fossil fuel earnings as punishment for invading Ukraine.
The ban comes along with a price cap agreed by the Group of Seven allied democracies. The goal is allowing Russian diesel to keep flowing to countries like China and India and avoiding a sudden price rise that would hurt consumers worldwide, while reducing the profits funding Moscow’s budget and war.
Diesel is key for the economy because it is used to power cars, trucks carrying goods, farm equipment and factory machinery. Diesel prices have been elevated due to recovering demand after the COVID-19 pandemic and limits on refining capacity, contributing to inflation for other goods worldwide.
The new sanctions create uncertainty about prices as the 27-nation European Union finds new supplies of diesel from the U.S., Middle East and India to replace those from Russia, which at one point delivered 10% of Europe’s total diesel needs. Those are longer journeys than from Russia’s ports, stretching available tankers.
The price cap of $100 per barrel for diesel, jet fuel and gasoline is to be enforced by barring insurance and shipping services from handling diesel priced over the limit. Most of those companies are located in Western countries.
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Coastie Patriot
SIC SEMPER TYRRANIS
THE SAME PEOPLE WHO SAID NO GUNS BECAUSE OF POLICE NOW WANT TO DEFUND THE POLICE!!!!
Dr Thaddeus They
They don't really care whether the truth gets out, because the public no longer knows what's meant by "the truth."
Well, I mean, no one can tell the difference anymore between what's real and what's fake.
Anyway, the point is, I can tell you all of this, right out in the open, because it doesn't matter who knows about it. They won't know whether to believe it or not.-
X Files: Lost art of Forehead Sweat
A gun is a tool, Marion, no better or no worse than any other tool, an axe, a shovel or anything. A gun is as good or as bad as the man using it. Remember that.
-SHANE-
Jefferson Smith: You see, boys forget what their country means by just reading The Land of the Free in history books. Then they get to be men they forget even more. Liberty's too precious a thing to be buried in books, Miss Saunders. Men should hold it up in front of them every single day of their lives and say: I'm free to think and to speak. My ancestors couldn't, I can, and my children will. Boys ought to grow up remembering that . - MR Smith Goes To Washington-
to grow up remembering th
My oath to support and defend the constitution against all enemies foreign and domestic has no expiration date!!!
Ten Bears : It's sad that governments are chiefed by the double tongues. There is iron in your words of death for all Comanche to see and so there is iron in your words of life. No signed paper can hold the iron. It must come from men. Outlaw Josey Wales
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