France Total CEO: EU's new sanctions on Russian oil exacerbate diesel shortage risks

Patrick Pouyann, CEO of TotalEnergies in France, stated at the performance meeting in the first half of 2025 that the new sanctions implemented by the EU prohibit the import of petroleum products made from Russian oil from third countries, exacerbating the shortage risk of diesel in Europe. Pouyann said that the EU had stopped buying Russian oil products at the beginning of 2023. Due to the fundamental shortage of diesel in Europe, there is a need to import diesel. Diesel supply mainly comes from distant regions such as the Middle East and the US, increasing the cost of diesel in Europe. Pouyann believes that "the EU's latest decision exacerbates the shortage of diesel sources in Europe." The EU Council announced on July 18th that within the framework of the 18th set of sanctions against Russia, the EU has banned the import of petroleum products made from Russian oil from third countries.