π·πΊ Russia, which normally supplies about 12% of the worldβs seaborne diesel exports, is set to extend its ban on diesel exports by producers through October 31, according to TASS, tightening a market already heading into winter with record prices.
β€ Ukrainian drone strikes have shut the Kirishi refinery and left Volgograd and NORSI operating at roughly 25% capacity. Together, the three are among Russiaβs six biggest diesel producers.
β€ Moscow says the ban is meant to protect domestic fuel supplies. Kremlin spokesperson Dmitry Peskov says lifting it would not flood world markets while Western import sanctions remain in place; he also cited the need for safe Black Sea shipping.
β€ Turkey, once a major buyer of Russian diesel, has turned to imports from the U.S. and India. The shortage is keeping diesel prices and refining margins high in the fall harvest season and ahead of the winter heating season.