Europe’s ultra-low-sulfur diesel (ULSD) traders are scrambling to replace Russian barrels already under de facto sanctions as Russia wages war on Ukraine. Rumors were swirling on Mar. 2 that France was about to embargo Russian oil products, including the ULSD imports it relies on. The threat came the day after French oil company TotalEnergies said it would stop buying Russian crude oil and the European Parliament called for restrictions on EU imports of Russian oil and gas.
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