Business News Asia
European diesel imports from around the world are approaching a record high ahead of the Russian fuel import ban.
The United Kingdom and the European Union (EU) imported more than 16 million barrels of marine diesel in the first ten days of December. This could make diesel imports for the month of December the second highest since 2016.
Europe lacks diesel fuel and has long relied on other oil imports. December imports, mostly from Asia and the Middle East, could shed light on where Europe’s fuel will come from after the EU embargo takes effect next February. But nearly half of December’s diesel imports so far have come from Russia, the same share as in November. This means that the EU remains dependent on Russia as a fuel supplier.