Russia bans diesel exports to ensure domestic supply after targeted Ukrainian drone strikes
The move will divert more fuel to Russian drivers as Ukrainian strikes cut refinery output and push diesel prices higher worldwide.
- Today, Russia implemented a ban on diesel exports lasting until July 31, aiming to stabilize the domestic fuel market following systematic Ukrainian drone attacks on oil refineries.
- Intensifying Ukrainian strikes on Russian energy infrastructure have squeezed diesel and gasoline supplies, forcing drivers in many regions to face hours-long lines at filling stations.
- Seaborne diesel and gasoil exports plunged 39% last month to around 1.8 million metric tons, while Benchmark European diesel margins rose to a record $60.17 per barrel.
- Deputy Prime Minister Alexander Novak stated the ban aims to increase domestic supplies, adding that Russia will begin importing fuel in July as the situation remains complex.
- Turkey and Brazil absorbed at least half of available cargoes last month, while Morocco, Egypt, and Senegal also emerged as major importers of Russian diesel before the restrictions.
121 Articles
121 Articles
Russia bans diesel fuel exports
Russia's Diesel Ban Hits Brazil, But Its Buying Already Fell 65%
Energy Key Facts —The order. Moscow banned diesel exports on 8 July, in force until 31 July, after Ukrainian drone strikes on refineries triggered shortages and fuel queues at home. —The exposure. Russia supplied 81% of Brazil’s imported diesel in March and April, worth $1.43bn of a $1.76bn total, per Comex Stat data. —The correction. […] The post Russia’s Diesel Ban Hits Brazil, But Its Buying Already Fell 65% appeared first on The Rio Times.
Russia has temporarily halted diesel exports due to the Ukrainian drone attacks. Global market prices have risen, and supply problems are intensifying.
By suspending its diesel exports, Moscow is implicitly acknowledging that Ukrainian strikes against its refineries are beginning to take their toll on its war economy. This decision could also have repercussions on the global energy market.
Coverage Details
Bias Distribution
- 35% of the sources lean Left, 35% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
