Russia extends diesel export ban through end of year

Russia has extended its temporary restriction on diesel exports through the end of the year, prolonging a measure previously scheduled to expire on July 31. Russian Deputy Prime Minister Alexander Novak stated that authorities intend to lift the ban once domestic market conditions recover, aiming to prevent refineries from suffering an oversupply.

The export restrictions follow local fuel shortages that have triggered lengthy queues at domestic filling stations. Moscow is attempting to balance internal supply requirements with domestic refining capacities to curb fuel price volatility.

Sources: Dagens Industri.