Russia May Partially Lift Diesel Export Ban

Deputy Prime Minister Alexander Novak announced that Russia may partially lift its diesel export ban if domestic production exceeds internal demand. This potential shift follows a recent decision by the Russian government to extend the export ban until the end of October to secure domestic supplies after Ukrainian drone attacks targeted several refineries.

Novak stated that the domestic diesel market is currently balanced and that Russia recently thwarted attacks on four refineries, noting that improved protection measures have reduced the impact of raids on energy infrastructure. However, President Vladimir Putin maintained on Thursday that Russia will not supply diesel to global markets until sanctions against Moscow are lifted.

The restrictions have contributed to global fuel shortages and record-high diesel prices in the United States, where costs have exceeded $6.50 a gallon.