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BREAKING
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation

Kuwait sends EU first batch of diesel fuel to aid with energy crisis

  • By Al Mayadeen English
  • Source: Agencies
  • 25 Dec 2022 18:37
  • 1 Shares
3 Min Read

The Kuwait National Petroleum Company says the Gulf country sent 66,000 tonnes of diesel fuel to Europe amid the harsh winter.

  • x
  • Kuwaiti oil refinery (AFP)
    Kuwaiti oil refinery (AFP)

To face the harsh winter, Kuwait has sent its first batch of diesel fuel to the EU, reported the country's news agency KUNA on Sunday, according to a statement by the Kuwait National Petroleum Company (KNPC).

The shipment consisted of 66,000 tonnes of the energy commodity, which was specially produced to meet the union's required standards and the EU market.

A refinery at the Port of Mina Abdullah conducted research to match the fuel's standards with those of the European demands.

Read more: US worried EU resolve on Ukraine diminishes over energy crisis - CNN

Within the same context, the European Union reached a punitive agreement to set a price cap on Russian oil at $60 a barrel, keeping a review mechanism to keep the price cap at 5% under market value.

Later, EU energy ministers agreed on setting a price cap for natural gas with Malta's minister announcing that the threshold was 180 euros per megawatt hour.

Related News

Putin orders govt to stabilize retail fuel prices amid export ban

EU to face diesel shortage, fuel prices hike: Hungary Energy Ministry

Moscow has previously stated that it will not comply, instead exporting its crude to nations that are not subject to the quota.

When the price cap was being further developed in October, the Russian Foreign Ministry called out the EU's decision on Russian oil exports to third countries, namely Cyprus, Malta, and Greece, and pledged to sell oil to countries that honor free market principles.

Read more: Experts: price cap on Russian oil to further aggravate energy crisis

In light of the price cap, Russian President Vladimir Putin commented that "the proposed cap corresponds to the prices at which we sell today. In this sense, this decision does not affect us in any way. To be honest, it is not important for us."

Several unidentified G7 officials earlier disclosed to Reuters that they doubted the ban would be successful if just the group's members - the United States, United Kingdom, Canada, France, Germany, Italy, and Japan - enforced it. They noted that in order for the measure to have a tangible impact on Russia's oil profits, the G7 would need the support of large oil consumers like China and India.

Starting from February 5, 2023, the European Union will be introducing a price cap for Russian refined products as well.

Infograph: EU to cut electricity usage in 2023

  • Diesel fuel
  • KNPC
  • Europe
  • EU
  • Kuwait
  • European Union

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