Russia to limit fuel exports due to refinery strikes

Companies have been advised to reduce sales of petroleum products to foreign markets, according to informed sources. One such source stated that the decision to ban diesel and jet fuel exports is in the final stages, but the implementation date remains uncertain, according to Bloomberg.

If the ban is implemented, it would increase pressure on global petroleum product prices, as Russia is a key exporter of diesel fuel, selling approximately 40% of its total production to foreign markets.

In recent months, Ukraine has intensified attacks on Russian energy facilities, particularly oil refineries and infrastructure.

According to estimates by the analytics company OilX, average oil refining in Russia fell to 4.69 million barrels per day in April—the lowest level in more than 16 years. The intensity of the strikes threatens to further reduce refining volumes just as Russia begins the holiday season, a time when fuel demand traditionally rises.

Following a meeting with industry representatives on Tuesday, Russian Deputy Prime Minister Alexander Novak called on relevant agencies to continuously monitor the domestic market and emphasized that ensuring uninterrupted fuel supplies to Russian consumers is currently the government's top priority.

Photo: screenshot.