Russia Ends Diesel Export Ban, Impacting Global Markets

The Russian government has lifted its ban on diesel exports delivered to sea ports via pipelines, removing a significant portion of the restrictions imposed last month. The ban, initially implemented to stabilize fuel prices in the domestic market, caused a surge in diesel prices globally. However, the ban on gasoline exports remains in place. As part of the announcement, Russia also imposed a "protective duty" to prevent unauthorized resellers from stockpiling fuel for future export. The news of the ban being lifted caused diesel prices in Europe to fall.