Ukraine-Russia War: Europe has diesel stocks for just 40 days, say reports


Europe has diesel stocks for just 40 days, according to a report by Bloomberg News Agency. It stated that Finland and Denmark have stocks for more than six months, while England and Norway have enough stocks for 30 days.

European oil companies are avoiding oil supplies from Russia as the war entered its second month, and they are looking for shipments from faraway places such as the Middle East, Asia and the USA to fill the gap caused by Russia, according to the agency.

Earlier, the United States and European Union had announced a drive to wean Europe off Russian gas imports and so choke off the billions in revenues that are fuelling Moscow's war.

Europe's biggest economy, Germany, said its own Russian oil imports would be halved by June and coal deliveries stopped by the autumn of this year.

According to the International Energy Agency, there were a total of 247.4 million barrels of diesel in European countries at the end of January before the war started. It is thought that this number will meet the need for 40 days, even if no diesel is produced or imported on the continent, according to Bloomberg.

The reliance of Europe's biggest economy on Russian energy has been exposed as an Achilles' heel as Western allies scramble to penalise Vladimir Putin for his attack on Ukraine.

With calls for an energy embargo growing louder, companies with Russian suppliers are letting their contracts run out and turning to other suppliers.

Earlier on Friday, the US and EU announced a task force aimed at reducing Europe's reliance on Russian fossil fuels in the face of Moscow's war on Ukraine.

The initiative being unveiled by President Joe Biden and EU chief Ursula von der Leyen will see the US work with partners to strive to supply Europe with an extra 15 billion cubic metres of liquefied natural gas this year, a statement said.

With input from agencies

Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

यह भी पढ़ें



Article,4,ASE News,2,Business,23,codecanyon,3,DPR,1,Education / Employment,1,Entertainment,10,IANS – The Siasat Daily,3,India news,4027,Latest news,1,Madhy Pradesh,465,main,19,National,162,News,1,PTI – The Siasat Daily,3,Sports,11,World,22,World News,1496,
Ukraine-Russia War: Europe has diesel stocks for just 40 days, say reports
Ukraine-Russia War: Europe has diesel stocks for just 40 days, say reports
ASE News
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content