Unprecedented efforts by the European Union to limit Russia's energy revenues are accelerating.
After banning all imports of seaborne crude oil from Russia in December and introducing a G7-led price cap mechanism, the EU is now doing the same for
petroleum
products such as diesel.
Russia is one of the world's largest exporters of diesel and so far more than half of those exports have gone to the EU.
That means Russian diesel will have to be diverted elsewhere, and the EU must find new suppliers, something experts say could end up driving up prices.
