FILE – A fuel trucks drives along a highway in Frankfurt, Germany, Jan. 27, 2023. European Union governments tentatively agreed Friday Feb. 3, 2023, to set a $100-per-barrel price cap on sales of Russian diesel to coincide with an EU embargo on the fuel — steps aimed at ending the bloc’s energy dependence on Russia and limiting the money Moscow makes to fund its war in Ukraine. (AP Photo/Michael Probst, File)
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FILE – A fuel trucks drives along a highway in Frankfurt, Germany, Jan. 27, 2023. European Union governments tentatively agreed Friday Feb. 3, 2023, to set a $100-per-barrel price cap on sales of Russian diesel to coincide with an EU embargo on the fuel — steps aimed at ending the bloc’s energy dependence on Russia and limiting the money Moscow makes to fund its war in Ukraine. (AP Photo/Michael Probst, File)
FRANKFURT, Germany (AP) — Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin’s fossil fuel earnings as punishment for invading Ukraine.
The ban comes along with a price cap agreed by the Group of Seven allied democracies. The goal is allowing Russian diesel to keep flowing to countries like China and India and avoiding a sudden price rise that would hurt consumers worldwide, while reducing the profits funding Moscow’s budget and war.