Recently on Digi24, Eugenia Gusilov discussed the EU embargoes on Russian petroleum products that came into effect on Sunday, February 5. Although traders imported more Russian diesel into the EU over the past four months to build up inventories before the embargo, diesel remains a sensitive point for the European market. Prices for this fuel will depend on developments in the countries Europe relies on, particularly the US, Saudi Arabia, and Kuwait, to replace Russian diesel.

Therefore, there will be no crisis, but turbulence is expected, especially in the second half of the year starting in June, once the pre-February 5 diesel inventories are exhausted. Towards the end of the discussion, she mentioned the growing role of new intermediaries, such as Turkey, which can buy Russian crude to refine it, allowing the resulting diesel to be exported to Europe under a Turkish label.