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2026-09-21 21:52:12
[Russia Plans to Extend Diesel Export Ban, Adding Further Uncertainty to Global Supply] ⑴ Sources familiar with the matter revealed that due to ongoing attacks on Russian refineries by Ukraine, Russia is preparing to extend most of its diesel export ban beyond the end of September, and is currently considering extending it for another month or even longer. ⑵ Russia imposed a diesel export ban in July, when a series of attacks on Russian refineries by Ukraine caused Russian oil processing volumes to plummet to multi-year lows. ⑶ The export restrictions were initially expected to last only a few weeks, but as the attacks continued, Russia subsequently extended the ban for a month, and then further extended it to the end of September. ⑷ As of last week, Moscow had been studying the possibility of extending the diesel export ban again. ⑸ Before the restrictions were implemented, Russia's seaborne diesel supply accounted for approximately 10% of the global total. ⑹ Removing this portion of supply from the market exacerbated the impact of supply disruptions in the Middle East, further pushing up prices. ⑺ Overall, if the Russian diesel export ban is extended again, it will further tighten the global diesel balance beyond the supply disruptions in the Middle East. The final deadline of the ban and the frequency of attacks on Russian refineries will be crucial in determining the impact on export recovery.
