Russia Extends Diesel Export Ban Through 2027 Amid Global Shortage

Russia has extended its restrictions on gasoline and diesel exports until January 31, 2027. The move comes just five days after Deputy Prime Minister Alexander Novak stated that Russia's domestic fuel market had recovered from repeated Ukrainian drone attacks.

The initial ban was implemented in July to mitigate fuel shortages and price spikes across the country. Gasoline and jet fuel exports were already restricted, and the new order includes marine fuel and gas oils as well.

Starting September 1, Russian producers will be allowed to export diesel, marine fuel, and gas oils, but other exporters will remain locked out. The restrictions on gasoline exports will continue until January 31, 2027.

The extension of the ban arrives amid a global shortage of diesel, with Goldman Sachs estimating that global diesel exports fell by 35% in July, or approximately 2.6 million barrels per day. Russia has historically been one of the world's largest diesel exporters, and keeping its fuel at home will further reduce supplies available to buyers.