US to impose ban on Russian products
Europe prepares for Russian product import ban
The European products market is the latest battlefield in the conflict between Moscow and the West
Russia has long sought to weaponise its critical role in the energy markets, and since launching its botched invasion of Ukraine almost a year ago, Moscow has intensified those efforts with the goal of driving a wedge between Kyiv and its European allies. But conversely, the EU is attempting to use its massive purchasing power to retaliate through the introduction of various market-intervention measures. The bloc banned imports of Russian crude on 5 December—with some notable exemptions, particularly for Bulgaria—and will impose a similar ban on Russian products on 5 February. The European Commission says the bans are “designed to maximise the negative impact of the sanctions for the Russian
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
