The cap on Russian diesel is $100 per barrel, while the cap on lower-cost petroleum products is set at $45 a barrel. Trade Routes ShiftAhead of the EU ban on Russian petroleum products, Russia began to divert its oil product cargoes to North Africa and Asia. North Africa is becoming a key export outlet of Russia’s diesel and other petroleum products. In February 2023, when the sanctions took effect, those diesel imports fell to 2%. Northwest Europe has significantly boosted diesel imports from Saudi Arabia, India, China, and South Korea, according to the EIA.

Source: The North Africa Journal April 12, 2023 01:01 UTC