Russian diesel exports and global prices

Valdis Dombrovskis, the European Commissioner for Economy, stated that the recent U.S. approval to sell Russian diesel exports will not significantly impact the fuel's prices, given the insignificance of the figures and the lingering doubts about Russia’s supply capacity and product quality. He also pointed out that the European Union plans to increase financial support for Ukraine during upcoming meetings, amidst the repercussions of rising energy prices and the soaring yields of sovereign bonds. The European official explained that there is a substantial trade deficit between the EU and China, amounting to around 360 billion euros last year, with efforts underway to impose a cap on hybrid car imports from Beijing to avoid a trade war. Additionally, he noted that the Americans are coordinating with Putin to release large quantities of diesel into global markets to lower prices, following their rise since the start of the war and the tensions with Iran.

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