The EU may have a plan to ban all Russian diesel purchases in February, but in the meantime, European buyers are happy to pay more for Russian diesel now than they did back in May, industry sources told Reuters. The ban on Russian seaborne diesel imports, set to go into effect as part of a larger strategy to cut off Russia’s revenue stream, follows the EU’s crude oil ban set to go into effect in December. Two months later, the ban on Russian diesel imports—and all its refined products—will go into effect. The discount on Russian diesel was at $30 per tonne in May, according to Reuters—but it is now just $6 per tonne in northwest Europe and $10 per tonne in the Mediterranean on the back of rising demand. Europe is on a mission to increase its inventories to a level that will carry them safely through the […]