Russia bans diesel exports after Ukrainian attacks on refineries, shaking global fuel markets
Moscow extended a diesel export ban to producers on Wednesday, aiming to stabilize domestic fuel supplies after weeks of Ukrainian drone attacks on refineries. The move sent European diesel margins to a record above $60 a barrel.
Domestic fuel crisis
Russia is grappling with a severe fuel shortage after repeated Ukrainian drone strikes on its oil refineries. Drivers in several regions face hours-long queues at petrol stations, and demand for fuel has surged by a third, according to Deputy Prime Minister Alexander Novak. The government has been forced to reroute deliveries and draw down accumulated reserves to keep the market functioning.
Export ban details
The Kremlin announced a temporary ban on diesel exports, effective immediately and lasting at least until 31 July. The restriction now covers producers, expanding an earlier January prohibition that applied only to traders and resellers. Shipments under existing intergovernmental agreements, such as the one with Mongolia, remain exempt. Russia has also begun importing fuel from other countries this month, a striking reversal for one of the world's largest crude producers.
Today we have imposed a ban on diesel fuel exports, which will allow us to increase supply to the domestic market.
Market impact
Russian seaborne diesel exports fell to about 1.8 million tonnes in June, down 39% from May and 46% below June 2025 levels. Turkey and Brazil absorbed at least half of those volumes. After the ban was announced, benchmark European diesel margins climbed to a record above $60 per barrel, signalling tighter global supply.
- Ukrainian drone attacks on Russian refineries intensify, causing fuel shortages and supply disruptions.
- Russia announces a ban on diesel exports until 31 July, extending the restriction to producers.
- Russia begins importing fuel from other countries to meet domestic demand.
Official response
President Vladimir Putin accused Ukraine of trying to damage the Russian economy and create public anxiety, but insisted the country's energy network has a high safety margin. Novak outlined additional measures, including maximising output at operational refineries, releasing stored fuel, and shortening routine maintenance cycles. The government also extended a tariff exemption for imported petroleum products and additives by one year.
It is absolutely clear that the enemy seeks to damage the economy. But above all, it seeks to create a climate of nervousness in society. We understand that this is an impossible task.
