- Sputnik International, 1920
Energy Crisis in Europe
Europe is bracing for tough winter as US-led push to “punish” Moscow for its military operation in Ukraine backfired on the EU, which has faced months of skyrocketing energy prices and rising inflation after Brussels joined Washington in attempting to “phase out” Russian oil, coal and gas.

See No Problem? EU May Face Diesel Crisis Amid Anti-Russian Sanctions

Diesel - Sputnik International, 1920, 30.11.2022
After February 5, sanctions will cut off sea imports of Russian diesel and other refined products to the European Union. Russia remains a key supplier of hydrocarbons to the EU. Economists point out that Europe must reinforce its search for new suppliers or face a market crunch.
Anti-Russian sanctions may push European economies which demand diesel towards turmoil since Moscow remains a key supplier of this fuel to the majority of Western nations. The United Kingdom and European Union imported about 600,000 barrels a day of Russian diesel-type fuel from November 1 to November 24, according to US media reports. Imports from Russia constitute 45% of all diesel-related shipments. In October Russia accounted for 34% of diesel shipments to the EU and UK. The average figure for the period from January to October was 51%.
Economists and political scientists have stressed the obvious: the EU and UK economies are highly dependent on Russian hydrocarbon supplies and they won`t find a meaningful substitute in the near future.
Energy sanctions against Russia have already backfired on European economies, pushing them into recession. The British economy is facing inflation that is topping four-decade highs. The EU states face the same problem - growing prices and monetary depreciation.
According to European Central Bank estimates, annual headline inflation in the Eurozone will reach 8.1% this year and at least 5.5%in 2023. Millions of European citizens found themselves living on the brink of fuel poverty due to skyrocketing energy prices.
However, the new sanctions also pose a challenge for Russia as Moscow will need to look for new customers. One of the candidates is Turkey, which already imported 3.7 million tons of diesel from Russia– around 30% of all Turkish diesel imports last year. Another candidate is Morocco and Tunisia.
Russia has already started re-orienting its oil and gas exports to Asia. In October, Russia became India's biggest supplier of oil.
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