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World

European Union bans Russian diesel, oil products over Ukraine

European Union Oil Russia United States Europe Ukraine India Middle East

A Russian diesel plant at the Yarakta oil field owned by the Irkutsk Oil Company [File: Vasily Fedosenko/Reuters]

Europe has imposed a ban on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin’s fossil fuel earnings as punishment for invading Ukraine.

Sunday’s ban comes along with a price cap agreed by the Group of Seven (G7) allied countries – the United States, Britain, Germany, France, Italy, Japan and Canada.

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