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France alerts diesel supply problems in Europe due to sanctions on Russia
Faced with a possible cessation of imports from Russia, Europe could find itself in a fuel crisis, especially diesel. This was reported by Bárbara Pompili, Minister of the Ecological Transition of France.
During his speech at the opening session of the ministerial meeting of the International Energy Agency (IEA), he called on the European countries to unite to overcome the coming crisis. "We will have to show solidarity to overcome this problem with diesel."
Similarly, he stressed that this situation "is going to pose a real problem", since the EU buys more diesel from Russia than gasoline and replacing suppliers is not as easy as some consider.
While days ago, Energy Aspects, a London-based research organization warned that diesel reserves in Europe may hit the lowest figures since 2018, falling by 390 million barrels during this month of March.
Cause and effect
Due to Moscow's invasion of Ukraine, many countries, such as the United States, have imposed various sanctions on Russia to end the war. The European Union has joined the Western country and intends to harden its position and completely cut off trade relations with the Kremlin.
This possible decision would further complicate the fuel situation, since the EU buys 30% of Russian oil and 40% of gas. What would complicate it the most is substituting diesel with other suppliers, due to the low availability of the product.
The pressure they are exerting on the government of Vladimir Putin could trigger a stronger shortage of diesel in the countries of the European Union. If in April the United States decides to increase or strengthen sanctions against Russia, it will result in less purchase of diesel.
