Polypropylene (PP) and Polyethylene (PE) prices in Europe have been dull due to poor buying activities caused by high inflation rates. Few polymers like LDPE witnessed price rises in Europe owing to their urgent requirement in the downstream pharmaceutical industries, but in general, the buying sentiments for polymers in the market have been weak. Upstream costs of Ethylene and Propylene have maintained a stable trend and a rising trend, respectively, but could not raise the prices of PE and PP in the European region. The EU has implemented a new package of sanctions against Russia, which includes an import ban on various polymers with immediate effect. Methanol is the primary product in the new ban list, which includes commodities like Polyethylenes and Polypropylene, along with Polystyrene and Polyvinyl Chloride. Russia is the largest producer and exporter of methanol, and this is an attempt by the EU to curb Russia's revenue to show their disagreement against Russia's invas...