A European ban on imported products made from Russian oil, including diesel fuel and gasoline, took effect on February 5th. This act is following in the footsteps of a similar act targeting Russian crude oil in December. Because of this, European countries will have to seek other suppliers for their oil. Possible options include countries in the Middle East, India, and the United States. Meanwhile, Russia will have to find other buyers for its oil, especially as oil and natural gas sales are a majority of Russia's government funds. Russia could end up selling their oil to East African countries, Asia, Latin America, or could increase sales to India and China. Whether this act will sway Russia and President Putin's war on Ukraine remains to be seen.
https://www.npr.org/2023/02/03/1153833640/europe-russian-oil-products-ban
Abigail Black
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