Part of the new EU sanctions package against Russia, aimed at restricting the flow of fuel made from Russian crude oil, will only come into force in January 2026. Source: Bloomberg Quote: "The European Union said a new set of measures aimed at restricting the flow of fuel made from Russian crude won’t take effect until January,

Oil prices showed little reaction to the EU’s latest sanction package against Russia. However, it could lead to further tightening in the European middle distillates market. Read more here.

The European Union approved a new series of sanctions against Russia on Friday in response to its ongoing war in Ukraine. The measures include a lower oil price cap, a ban on transactions involving the Nord Stream gas pipelines,