Russia extends diesel export ban after record wave of oil refinery strikes

Russia's government has extended until 30 September a ban preventing direct producers from exporting diesel, marine fuel and gasoil, Bloomberg reported, citing the measure as necessary to keep the domestic fuel market stable.

The extension follows an intensified Ukrainian campaign against Russian oil refineries. Since the start of August, Ukraine has carried out at least 21 strikes on such facilities, the highest monthly total since the full-scale invasion began. The strikes have caused a fresh wave of petrol shortages across Russian regions.

Global market strain

Before the escalation, Russia supplied around 10% of the world's diesel. Extending the export ban will tighten global supply further, which is already under pressure from the war in the Middle East. US diesel inventories have dropped to their lowest seasonal level on record, while Europe, facing its own shortages, has started importing diesel from Mexico for the first time in seven years.

Russia first introduced the restrictions in early July as a temporary step, later extending them through the end of August. The ban does not cover supplies made under intergovernmental agreements or humanitarian aid.

By late August, Russian petrol production had fallen to 70% of usual summer consumption levels, as Ukrainian strikes have knocked out more than 30% of the country's actual oil refining capacity.