FETSA’s executive director, Ravi Bhatiani, examines the effects of new EU restrictions on the global energy market. In December, the EU’s restrictive measures on crude oil imports came into effect, as well as a price cap on crude oil. In February, restrictive measures on refined products will also be introduced, with the expectation of a further price cap to follow to cover these impacts. The precise consequences of these measures cannot be predicted with any certainty because this is the first time in recent history, in an interconnected world energy market, that such a drastic intervention in market forces has […]
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