Russia May Restrict Diesel, Jet Fuel Exports Amid Refinery Attacks

Key Details Russia is considering limiting exports of diesel and jet fuel following a May 26 meeting between oil company leaders and Deputy Prime Minister Alexander Novak. According to Interfax, the decision to ban these exports is at an advanced stage, though no implementation date has been set. Why It Matters Russia exports roughly 40% of its diesel production globally, making it a major player in worldwide fuel markets. Any export ban would add significant pressure to international diesel and jet fuel prices, affecting operating costs for fleets worldwide. The Driving Factor Ukraine has intensified attacks on Russian refineries and oil pipeline infrastructure to reduce Moscow's war-related revenue streams. Russian refinery runs dropped to 4.69 million barrels per day in April - the lowest level in over 16 years - and continued strikes threaten further reductions. What's Next Russia's government emphasized maintaining reliable domestic fuel supplies as a priority during the holiday season, when fuel demand traditionally increases. Deputy Prime Minister Novak stated that federal agencies and companies must coordinate closely and develop additional response measures as needed.