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.

• The 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.
• The goal is allowing Russian diesel to keep flowing to countries such as China and India and avoiding a sudden price rise that would hurt consumers worldwide while reducing the profits funding Moscow’s budget and war.