In early 2023, the European Union implemented a ban on seaborne imports of diesel fuel, commonly called gasoil, from Russia following Russia’s full-scale invasion of Ukraine the previous year. The ban reoriented trade flows as Europe imported more diesel from the Middle East and the United States rather than Russia. This summer, Europe’s increased reliance on imports from the Middle East, coupled with conflict-related disruptions to refineries and escalating geopolitical tensions, contributed to a tightened global diesel market.
