Russia Will Consider Partial Lifting of Diesel Export Ban in Case of Overproduction, Novak Says
Deputy Prime Minister Alexander Novak said the domestic diesel market is balanced and exports could reopen if production exceeds demand.
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Russia said today it would consider partially lifting a ban on diesel exports in the event of overproduction. Speaking to the upper house of the Russian parliament, Deputy Prime Minister Alexander Novak also said the domestic market was currently balanced.
The Moscow Times
DevdiscourseRussia Will Consider Partial Lifting of Diesel Export Ban in Case of Overproduction, Novak Says
Russia said on Friday it would consider a partial lifting of diesel export restrictions in case of overproduction, raising the prospect of a possible reprieve for global fuel markets strained by war and supply shortages.
Russia's Vice-Premier, Alexander Nowak, said that when diesel fuel is over-production, the authorities might consider partially opening its exports. "We now have a balanced market for diesel, enough fuel. And even though we have extended the ban on exports just a few days ago, we will monitor the situation and, if diesel is over-production, we will consider partially opening the export," said Russian Vice-Premier Alexander Novak, transmitting RI…
The domestic market for diesel fuel is balanced, in case of overproduction we will consider partial opening of exports, advised Vice-Premier Alexander Novak at a government hour in the Federation Council." We are taking all necessary measures to ensure that the market is equipped with all types of petroleum products.
Key takeaways Deputy Prime Minister Alexander Novak recently announced that Russia may selectively ease restrictions on diesel exports if domestic production exceeds domestic demand. This potential change of course could bring relief to international fuel markets, which are under significant pressure due to supply shortages and ongoing geopolitical […]
The Russian government is considering the possibility of partially lifting the ban on diesel exports, noting that this could depend on the balance on the domestic market and the lifting of sanctions on the import of Russian energy products.
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