Russia’s government lifts ban on most of its diesel exports

In this photograph taken on September 22, 2023, the Eneida bulk carrier cargo ship sails towards the Ukrainian Black sea port of Chornomorsk, amid Russia’s military invasion on Ukraine.

– | Afp | Getty Images

Russia’s government on Friday said it had withdrawn a ban on diesel exports delivered to sea ports via pipelines, removing a large chunk of restrictions it put in place last month.

The Kremlin said in a statement that it had “lifted restrictions on the export of diesel fuel delivered to seaports by pipeline, provided that the manufacturer supplies at least 50% of the diesel fuel produced to the domestic market,” according to a Google translation.

The announcement comes shortly after Russia imposed an indefinite ban on the export of diesel and gasoline to most countries, sending shockwaves through global markets.

The restrictions for gasoline exports currently remain in place.

Russia is one of the world’s largest suppliers of diesel and a major exporter of crude oil.

This is a breaking news story, and it is being updated.

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