The restrictions were introduced in July as a temporary measure.
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Bloomberg: Russia extended its diesel export banPhoto: EPA/UPG
Russia has extended the ban on diesel fuel exports by producers until September 30. The aggressor country’s government explained the decision by the need to support the stability of the domestic fuel market.
Bloomberg writes about this.
The restrictions were introduced at the beginning of July as a temporary measure. In August, it was extended, and now the ban has been prolonged again amid intensified Ukrainian attacks on Russian oil refineries.
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In August, the media notes, Ukraine attacked Russian oil refineries at least 21 times. This is a record monthly figure since the beginning of Russia’s full-scale invasion of Ukraine in February 2022.
Attacks on the fuel industry also caused a new wave of gasoline shortages in Russian regions.
What are the consequences?
Before the large-scale campaign of strikes on Russian fuel infrastructure began, Russia was one of the world’s largest exporters of diesel fuel – it accounted for about 10% of global supplies.
The extension of the ban could further exacerbate tensions in the global market, where supply is already decreasing due to the conflict in the Middle East and Russia’s war against Ukraine.
According to the U.S. Energy Information Administration, diesel inventories in the United States have fallen to their lowest seasonal level on record. The situation has also worsened in Europe: the region has begun importing diesel fuel from Mexico for the first time in seven years.