Here's why Europe's new Russian fuel sanctions won't cripple Moscow

• On Sunday, the European Union imposes an import ban and price cap mechanism on Russian fuel products, such as diesel.
• Kpler lead oil analyst Matt Smith said the sanctions likely won't change Russia's overall production volume, but could hit export revenues.  
• He noted that Africa has seen a recent uptick in imports of Russian oil products ahead of the new ban. 

The European Union's next round of sanctions on Russia could hit Moscow's energy revenue, but they are unlikely to weigh on overall production, Matt Smith, lead oil analyst at Kpler, told Insider.