European countries have significantly increased purchases of diesel and aviation fuel. The increase in imports is associated with preparations for winter and the European Union's plans to limit petroleum products from russian oil.
This was reported by Bloomberg.
According to the agency, from October 1 to 20, about 1.9 million barrels of oil were delivered to seaports of European countries. It was purchased from Saudi Arabia, the United States and India. If such a pace of purchases is maintained, they will reach a monthly record.
Bloomberg notes that the European Union has increased fuel imports since the ban on supplies. At the same time, the ban led to the destruction of trade chains that existed before. Because of this, the bloc was forced to look for suppliers in other countries.
High fuel prices give traders the opportunity to profit from sending cargo to the EU in the framework of the so-called open arbitrage. Uncertainty about the restrictions encourages traders to supply more fuel.
As Ukrainian News Agency earlier reported, yesterday, October 27, the German newspaper Bild wrote that the European Union remains the third largest trading partner of the russian federation.
We also wrote that on October 23, the European Union finally approved the 19th package of sanctions against russia.
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