Russia imposed a temporary ban on diesel exports until July 31, scrambling global fuel markets and sending diesel prices sharply higher as sustained Ukrainian drone attacks on Russian oil refineries continue to disrupt domestic fuel supplies.
The export restrictions, announced after a government meeting chaired by President Vladimir Putin, are aimed at easing fuel shortages that have left motorists waiting in long queues at petrol stations across several Russian regions. The shortages have emerged as repeated attacks on refining facilities have curtailed production of diesel and gasoline, forcing Moscow to prioritise domestic supply over exports.
The move immediately rippled through global energy markets, with benchmark European diesel margins surging to a record high and US diesel futures posting their biggest daily gain in more than four years, reflecting fears of an already tight market becoming even more constrained.
Deputy Prime Minister Alexander Novak acknowledged that Russia’s fuel market remains under severe pressure despite government intervention.
“The fuel situation remains complex. It is clear that the current situation at filling stations is causing concern among the public,” Novak said during the televised meeting.
He said the export ban would allow more diesel to remain within Russia and help improve supplies to domestic consumers. Novak also disclosed that Russia would begin importing fuel from July to bridge the supply gap — an unusual step for one of the world’s largest energy exporters.
Export restrictions to remain until July 31
According to the Russian government, the diesel export ban will remain in place until July 31 and will also apply to fuel producers. However, shipments under existing intergovernmental agreements, including supplies to Mongolia, will continue.
The restrictions represent Moscow’s latest attempt to stabilise the domestic fuel market after months of attacks on its energy infrastructure. Ukraine has repeatedly targeted Russian oil refineries and fuel depots, saying the strikes are intended to reduce Russia’s capacity to sustain its military campaign and increase economic pressure on the Kremlin.
Addressing the meeting, President Vladimir Putin accused Ukraine of trying to undermine Russia’s economy and sow panic among its citizens.
“But most importantly, it seeks to create a sense of anxiety in society. We all understand that this goal is unattainable,” Putin said.
He added that Russia’s power system remained among the most resilient in the world despite repeated attacks.
Read More: Russia: Putin Admits Ukrainian Strikes Are Driving Fuel Shortages
