Russia and Ukraine are locked in a long-range aerial war while their armies remain largely deadlocked on the front line, more than 4 1/2 years since Moscow's full-scale invasion.
Ukraine has for months been targeting Russia's oil and gas industry with long-range strikes, prompting fuel rationing across the country and causing Moscow to ban diesel exports in July.
India supplied around 60% of diesel shipped through the Bab-el-Mandeb to Europe in August, a report said quoting Vortexa data, as supply routes tighten ahead of winter.
President Trump recently warned of “biting” secondary sanctions — including tariffs of up to 100% — on buyers of Russian exports unless a peace deal is reached in the Russia-Ukraine conflict within 50 ...
The cap follows similar price limits put on Russian oil exports, with the goal of reducing the financial resources Russian President Vladimir Putin has to wage the nearly year-long war in Ukraine.
The goal is to stop feeding Russia's war chest, but it's not so simple. Diesel prices have already jumped since the war started on Feb. 24, and they could rise again.
