US to impose ban on Russian products
Europe prepares for Russian product import ban
The European products market is the latest battlefield in the conflict between Moscow and the West
Russia has long sought to weaponise its critical role in the energy markets, and since launching its botched invasion of Ukraine almost a year ago, Moscow has intensified those efforts with the goal of driving a wedge between Kyiv and its European allies. But conversely, the EU is attempting to use its massive purchasing power to retaliate through the introduction of various market-intervention measures. The bloc banned imports of Russian crude on 5 December—with some notable exemptions, particularly for Bulgaria—and will impose a similar ban on Russian products on 5 February. The European Commission says the bans are “designed to maximise the negative impact of the sanctions for the Russian
Also in this section
16 September 2024
The third part of our fourth chapter on the history of oil takes the story of gas to the present day with the rise of LNG and the creation of a truly global market
16 September 2024
Gas is difficult to move compared with oil, requiring additional infrastructure. The second part of our history of gas examines how expanding pipeline networks made it possible to monetise the fuel
16 September 2024
The first part of our fourth chapter on the history of oil looks at the origins of gas and LNG—once considered a nuisance, now a fuel of the future
13 September 2024
The Ukraine–Russia gas transit and interconnection agreements are due to expire at the end of this year, but despite some uncertainty, Europe seems well-prepared
