EU to Present New Sanctions Against Russia; Zelenskiy Proposes Extending Gas Export Ban; Russian Oil Exports Revised Down to 2M BPD; Considers Ban on Russian Diamonds; Russian Diesel and Gasoline Exports to be Lifted

The European Union (EU) is set to present a new package of sanctions against Russia on November 13. President Zelenskiy of Ukraine has proposed extending the ban on Ukrainian natural gas exports for the entire 2024. Russia's oil exports via western ports are revised down to 2 million barrels per day in November. The EU is considering a 12th package of sanctions on Russia, which may include a ban on Russian diamonds. The European Parliament has adopted a resolution urging for tougher sanctions against Russia and calling for tighter control over the enforcement of existing sanctions. Additionally, there are reports that the ban on Russian diesel and gasoline exports will be fully lifted next week.