Connection

popular articles

Alternus and Hover finalize three new wind microgrid contracts
First application for SMR approval in France
Delay of Equinor’s Saltend H2H in the UK: Financing uncertainties
Companies struggle to maintain their investments in decarbonization
The growing demand for LNG boosts GTT’s revenue by 55% over nine months

European Union embargo on Russian oil products

The European Union is taking drastic measures to counter the Russian occupation of Ukraine by imposing a ban on Russian refined oil products, accompanied by price caps. Penalties will be applied if the cap level is exceeded.

Please share:

The European Union has announced that it will impose a ban on Russian refined oil products, including diesel and fuel oil, from February 5. This measure follows an earlier EU embargo on Russian crude oil transported by sea. The coalition aims to punish Moscow for its invasion of Ukraine by depriving it of revenue from its energy exports.

 

How the embargo works

According to this ban, EU vessels are required not to carry oil products of Russian origin and companies that provide technical or financial assistance such as insurance are also interested in this embargo. However, world trade is maintained if services are supplied below the EU price ceiling.

 

Price cap still uncertain

Price ceilings for diesel and heating oil have not yet been determined, but the European Commission has suggested a maximum level that should be in place before the embargo is effectively implemented. Sanctions will be applied to operators and companies that do not respect this ceiling imposed by the European Commission.

Register free of charge for uninterrupted access.

Publicite

Latest news

COP29: China’s Rejection Triggers a Deadlock on Climate Financing
Cordemais Coal Plant: Worker Strike Highlights Uncertain Future
Strategic Alliance Between Russia and Iraq: Stabilizing Oil Prices Through OPEC+
Gazprom-OMV Dispute: A Test of Resilience for European Energy Diplomacy
The Export Ambitions of Vaca Muerta: Challenges and Realities in Argentina’s Energy Diplomacy

Recently published in

COP29: China’s Rejection Triggers a Deadlock on Climate Financing

At COP29, China refuses to agree to a climate financing proposal, deepening North-South tensions and threatening global objectives in the fight against climate change.
Strategic Alliance Between Russia and Iraq: Stabilizing Oil Prices Through OPEC+
Russia and Iraq strengthen their cooperation within OPEC+ to manage oil price fluctuations. This coordination is crucial for their respective budgets amidst sanctions and heavy reliance on oil revenues.
en_1140542540
Strategic Alliance Between Russia and Iraq: Stabilizing Oil Prices Through OPEC+
Russia and Iraq strengthen their cooperation within OPEC+ to manage oil price fluctuations. This coordination is crucial for their respective budgets amidst sanctions and heavy reliance on oil revenues.
en_1140542540
Gazprom-OMV Dispute: A Test of Resilience for European Energy Diplomacy
A dispute between Gazprom and OMV disrupts Europe’s energy balance. Despite stable flows via Ukraine, legal and economic tensions increase the challenges of the European Union’s energy diplomacy.
en_1140552540
Gazprom-OMV Dispute: A Test of Resilience for European Energy Diplomacy
A dispute between Gazprom and OMV disrupts Europe’s energy balance. Despite stable flows via Ukraine, legal and economic tensions increase the challenges of the European Union’s energy diplomacy.
en_1140552540
The Export Ambitions of Vaca Muerta: Challenges and Realities in Argentina’s Energy Diplomacy
Vaca Muerta, one of the world’s largest shale gas reserves, places Argentina at a major strategic crossroads. Yet, with limited infrastructure, economic challenges, and energy diplomacy complexities, its export ambitions face significant hurdles.
en_1140538540
The Export Ambitions of Vaca Muerta: Challenges and Realities in Argentina’s Energy Diplomacy
Vaca Muerta, one of the world’s largest shale gas reserves, places Argentina at a major strategic crossroads. Yet, with limited infrastructure, economic challenges, and energy diplomacy complexities, its export ambitions face significant hurdles.
en_1140538540

Iran warns against European resolution on its nuclear program

Tehran warns that the European resolution condemning its nuclear program at the IAEA risks severely disrupting relations with the UN agency ahead of a crucial vote.
COP29: Financial tensions reveal fractures in energy diplomacy
The COP29 negotiations highlight the critical stakes of energy diplomacy, where climate financing and fossil fuel commitments divide developed and developing countries.
en_1140541540
COP29: Financial tensions reveal fractures in energy diplomacy
The COP29 negotiations highlight the critical stakes of energy diplomacy, where climate financing and fossil fuel commitments divide developed and developing countries.
en_1140541540
Brazil Commits to a Global Debate on Ending Fossil Fuels at COP30
As it prepares to host COP30 in 2025, Brazil, a major oil producer, aims to play a key role in the energy transition by promoting a global discussion on the gradual reduction of fossil fuels.
en_1140549540
Brazil Commits to a Global Debate on Ending Fossil Fuels at COP30
As it prepares to host COP30 in 2025, Brazil, a major oil producer, aims to play a key role in the energy transition by promoting a global discussion on the gradual reduction of fossil fuels.
en_1140549540
Petrobras explores opportunities in the Argentine oil and gas sector
The Brazilian oil giant Petrobras is considering a return to Argentina, drawn by the potential of Vaca Muerta and a new energy cooperation agreement between the two nations.
en_1140522540
Petrobras explores opportunities in the Argentine oil and gas sector
The Brazilian oil giant Petrobras is considering a return to Argentina, drawn by the potential of Vaca Muerta and a new energy cooperation agreement between the two nations.
en_1140522540

China and Suriname Reach $475 Million Debt Restructuring Agreement

Suriname and China have signed an agreement to reschedule $475 million in debt, marking the first step in revitalizing the South American country's economy, which remains in crisis despite its vast oil reserves.
The West Condemns Iran’s Lack of Cooperation on Nuclear Program
The United States and European nations have presented a resolution at the IAEA condemning Iran for failing to fully cooperate on its nuclear program. Tehran warns of repercussions following this decision.
en_1140519540
The West Condemns Iran’s Lack of Cooperation on Nuclear Program
The United States and European nations have presented a resolution at the IAEA condemning Iran for failing to fully cooperate on its nuclear program. Tehran warns of repercussions following this decision.
en_1140519540
COP29: Japan aligns with the EU on NCQG and takes a neutral stance on CBAM
At COP29, Japan aligns with the EU on climate finance contributions and adopts a measured approach to the Carbon Border Adjustment Mechanism (CBAM), while reviewing its long-term energy objectives.
en_1140501540
COP29: Japan aligns with the EU on NCQG and takes a neutral stance on CBAM
At COP29, Japan aligns with the EU on climate finance contributions and adopts a measured approach to the Carbon Border Adjustment Mechanism (CBAM), while reviewing its long-term energy objectives.
en_1140501540
Chinese Investments Strengthen Brazil’s Energy Infrastructure
China is massively investing in Brazil's energy sector, with structural projects in electricity production and transmission, accelerating economic development and integrating the country's power networks.
en_1140497540
Chinese Investments Strengthen Brazil’s Energy Infrastructure
China is massively investing in Brazil's energy sector, with structural projects in electricity production and transmission, accelerating economic development and integrating the country's power networks.
en_1140497540

The Controversial Role of Fossil Fuels at COP29: A Transition or Lobbying Issue?

COP29 in Baku highlights the massive presence of fossil fuel representatives. Between lobbying and energy necessity, the debate on their role in the climate transition intensifies.
Russia and Cuba: Strengthening Energy Cooperation Amid Hurricanes and Crises
Cuba, hit by two hurricanes and an acute energy crisis, receives enhanced support from Russia, including financial aid, equipment, and an educational partnership to develop its energy sector.
en_1140438540
Russia and Cuba: Strengthening Energy Cooperation Amid Hurricanes and Crises
Cuba, hit by two hurricanes and an acute energy crisis, receives enhanced support from Russia, including financial aid, equipment, and an educational partnership to develop its energy sector.
en_1140438540
G7 Tankers Return to Russia: Opportunities Amid Price Cap
G7-linked tankers are returning to Russian routes, reaching a seven-month high as they seize opportunities presented by the weakness of Russian crude prices under the $60/barrel cap.
en_1140409540
G7 Tankers Return to Russia: Opportunities Amid Price Cap
G7-linked tankers are returning to Russian routes, reaching a seven-month high as they seize opportunities presented by the weakness of Russian crude prices under the $60/barrel cap.
en_1140409540
COP29: Tensions over EU Carbon Tax Stall Opening Discussions at Baku Summit
COP29: Tensions over EU Carbon Tax Stall Opening Discussions at Baku Summit
en_1140395540
COP29: Tensions over EU Carbon Tax Stall Opening Discussions at Baku Summit
COP29: Tensions over EU Carbon Tax Stall Opening Discussions at Baku Summit
en_1140395540

COP29: Towards Regulation of the Carbon Credit Market Despite Controversies

COP29 is launching a regulatory framework for carbon credit exchanges between countries and companies under UN supervision, aiming to ensure the reliability of these transactions in the fight against climate change.
COP29: Azerbaijan Defends the Exploitation of Its Oil Resources Amid International Pressures
COP29: Azerbaijan Defends the Exploitation of Its Oil Resources Amid International Pressures
en_1140390540
COP29: Azerbaijan Defends the Exploitation of Its Oil Resources Amid International Pressures
COP29: Azerbaijan Defends the Exploitation of Its Oil Resources Amid International Pressures
en_1140390540
COP29: Azerbaijan Pushes for Rapid Agreement on International Carbon Market
At COP29, Azerbaijan urges negotiators to swiftly adopt Article 6 rules, a critical issue for international carbon credit markets. Talks are intensifying in Baku, but obstacles remain.
en_1140370540
COP29: Azerbaijan Pushes for Rapid Agreement on International Carbon Market
At COP29, Azerbaijan urges negotiators to swiftly adopt Article 6 rules, a critical issue for international carbon credit markets. Talks are intensifying in Baku, but obstacles remain.
en_1140370540
Crisis in the Red Sea: Greek Tanker Sounion Attacked by Houthis Begins Oil Transfer at Suez
After being attacked by Houthis in August, the Sounion tanker begins, under high security, the transfer of one million barrels of oil to the Delta Blue in the Suez Canal, preventing a major ecological disaster.
en_1140373540
Crisis in the Red Sea: Greek Tanker Sounion Attacked by Houthis Begins Oil Transfer at Suez
After being attacked by Houthis in August, the Sounion tanker begins, under high security, the transfer of one million barrels of oil to the Delta Blue in the Suez Canal, preventing a major ecological disaster.
en_1140373540

The EU Proposes Increasing American Gas Imports to Reduce Dependence on Russian Gas

In response to trade tensions with the United States, Ursula von der Leyen proposed increasing imports of American liquefied natural gas (LNG) to replace Russian gas in Europe.
COP29 begins with a pressing call for global cooperation
COP29 opens in Baku, Azerbaijan, amid global political uncertainty, with renewed calls for massive funding to support developing countries facing the climate crisis.
en_1140382540
COP29 begins with a pressing call for global cooperation
COP29 opens in Baku, Azerbaijan, amid global political uncertainty, with renewed calls for massive funding to support developing countries facing the climate crisis.
en_1140382540
Thailand and Germany Join Forces to Achieve Carbon Neutrality by 2050
Eight Thai agencies sign an agreement with Germany to reduce CO₂ emissions through a "sector coupling" project, aiming for carbon neutrality by 2050 and net-zero emissions by 2065.
en_1140343540
Thailand and Germany Join Forces to Achieve Carbon Neutrality by 2050
Eight Thai agencies sign an agreement with Germany to reduce CO₂ emissions through a "sector coupling" project, aiming for carbon neutrality by 2050 and net-zero emissions by 2065.
en_1140343540
Iraq’s Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad
Iraq's Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad
en_1140340540
Iraq’s Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad
Iraq's Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad
en_1140340540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS