The purpose behind this ban and price cap is that Russia should not get the benefit of any increase in the prices of refined oil products. Let us tell you that the war between Russia and Ukraine is going on for the last one year.
In the middle of the ongoing war with Ukraine european union (EU) on the economic front Vladimir Putin The siege has intensified. European countries on Sunday banned buying diesel from Russia. This ban on Russian diesel has been imposed along with the maximum limit of petroleum products. Seven friendly countries had agreed on the maximum price limit of diesel.
However, this price limit will not affect Russia’s economic interests much in the short term. The reason for this is that Russia is currently supplying diesel at more or less the same level. But after the ban of European countries, it will be very difficult for him to find customers for diesel.
Many restrictions on Russia after the war
In order to economically isolate Russia, which attacked Ukraine in February last year, America and European countries have imposed many restrictions on it. The ban on diesel by European countries is the next step taken in this direction. The purpose behind this ban and price cap is that Russia should not get the benefit of any increase in the prices of refined oil products.
This ban was announced in June itself.
European Union officials said that the ban was announced in June itself, so countries importing oil from Russia had enough time. In December, before the ban took effect, Russia earned $2 billion from diesel supplies to European countries. The European country has already banned coal and most of the crude oil from Russia. At the same time, Russia has greatly limited the supply of natural gas to Europe as a counter-step.
The war started on February 24 last year
Let us tell you that the war between Russia and Ukraine is going on for the last one year. This February 24, it will be a full year since the war between the two countries started. In this whole one year, both the countries have suffered a lot but neither of them is ready to back down from this war. Therefore, it is difficult to say how long this war can continue. (input from language)
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