Russia set to extend diesel export ban past September
Russia plans to extend its ban on most diesel exports beyond the end of September as Ukraine continues to attack its refineries, Cloomberg reported Monday citing people familiar with the matter. An extension by at least another month, or more, is reportedly under consideration. Russia implemented the ban in July after Ukrainian strikes against its ...
As Ukrainian drone strikes persist on Russia's refineries, Russia is considering extending its ban on diesel exports for at least a further month, C Bloomberg reported. The export restrictions, initially set to end in September, were initially implemented in July following Ukrainian attacks that pushed oil-processing rates to multiyear lows.
Russia exported around 10% of global seaborne diesel before the restrictions, a figure which contributed to price surges when the volumes were removed from the market. Analysts estimate that the Middle East conflict has removed more diesel supply than the Russia-Ukraine conflict. The US saw diesel prices hit a record $6.51 per gallon last week as a global fuel shortage hit.
President Trump publicly implored Ukrainian President Zelenskyy to cease drone strikes on Russian energy assets, though neither nation has officially confirmed such an accord. President Trump and Ukrainian President Zelenskyy had reportedly agreed to end the strikes, yet the attacks have continued.
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