Key facts
- Russia has implemented a ban on diesel exports until July 31.
- The export ban aims to increase fuel supply to the domestic market.
- The decision follows Ukrainian drone attacks on Russian energy infrastructure, including refineries.
- US diesel futures experienced their largest daily increase in four years.
- Ukraine's intelligence agency claimed responsibility for a strike on the Saratov oil refinery.
Russia has banned diesel exports until the end of July, a move aimed at increasing domestic supply amid a deepening fuel crisis exacerbated by Ukrainian drone attacks on its energy infrastructure. The decision, announced by Deputy Prime Minister Alexander Novak, comes as Kyiv intensifies strikes on refineries, depots, and terminals, leading to fuel shortages and price spikes within Russia and occupied territories.
US diesel futures saw their largest daily gain in four years following the announcement. The Kremlin stated the ban would not apply to diesel exported under existing international government agreements. Ukrainian President Volodymyr Zelenskyy posted video footage appearing to show the aftermath of a strike on the Saratov oil refinery, an attack claimed by Ukraine's Main Directorate of Intelligence as a key supplier of fuel to the Russian army.
US Secretary of State Marco Rubio commented that Ukraine's strikes on Russian oil infrastructure could pressure Moscow to end the war, noting difficulties in defending airspace. Ukrainian authorities reported that Russia launched numerous drones and missiles at Ukraine overnight, with air defenses intercepting a majority.