LONDON, May 5 (Reuters) - The European Union has proposed a phased embargo of Russian oil but could find it tricky to implement, given Europe's complex distribution network and challenges in tracking crude once it is blended or refined. The plan, if agreed by member states, would take effect in…
The European Union has proposed a phased embargo of Russian oil but could find it tricky to implement, given Europe’s complex distribution network and challenges in tracking crude once it is blended or refined. The plan, if agreed by member states, would take effect in six months for crude and in eight months for diesel .
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European economies face the risk of a shortage of diesel, the preferred fuel for heavy industry, as sanctions on Russian energy threaten to disrupt imports while supply from elsewhere remains limited. Russia is Europe’s largest supplier of diesel and related fuels, sending over three quarters of a million barrels per day for use in European .