Russia extends diesel export ban through the end of January
Russia extended its general diesel export ban through January to steady its domestic market and plans 2.15 million tonnes of exports in November.
Russia's government extended the general ban on diesel exports by producers through the end of January, while allowing some volumes to reach the global market, according to a government statement carried by Bloomberg.
The government said the decision aims to keep the domestic fuel market stable, and announced that the decree was signed on Saturday but has not yet been published.
Deputy Prime Minister Alexander Novak said on Friday that the government is preparing exemptions for some suppliers to ship diesel to global markets, similar to October's exemptions that are also planned for November. Russia plans to export about 2.15 million tonnes of diesel in November, compared with about 510,000 tonnes in October.
Novak said repeated Ukrainian attacks on refineries may reduce export volumes but not significantly. Russia eased the terms of the export ban this month after US President Donald Trump said he was working with President Vladimir Putin to return Russian diesel to global markets.
What do these terms mean?
Diesel: A liquid fuel used in heavy vehicles, trucks and some cars, produced by refining crude oil.
Decree: A formal, binding decision issued by the government or head of state, usually published in the official gazette before it takes effect.
Refineries: Industrial facilities that turn crude oil into gasoline, diesel, jet fuel and other petroleum products.
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