FACTBOX: Russia’s Diesel Export Ban Extended Until September 30
The Russian government has extended its ban on the export of diesel until the end of September, according to a statement on its website published Aug. 29. Reuters reported a government spokesperson as saying the measures were taken to stabilize the domes tic fuel market.
The ban was set to last until July 31, but this was later delayed until Sept. 1. Deputy Prime Minister Alexander Novak told reporters last week the government was still considering a further extension. The Russian Fuel Union (RTS) asked Novak and the government to maintain the ban to stabilize diesel supplies.
Price Impact
* The Kremlin first announced the diesel export ban on July 8, responding to sustained Ukrainian drone attacks which struck much of Russia’s refining infrastructure, prompting fears of domestic fuel shortages.
* Diesel prices in the Mediterranean have soared as buyers scrambled to secure supplies. On Aug. 28, ultra-low sulfur diesel (ULSD) CIF Mediterranean cargoes were assessed at $1,314.75/metric ton, up from $953.50/mt on July 1, according to OPIS pricing data.
* On Aug. 28 CIF Med gasoil cargoes were assessed at $1,287.25/mt compared to $945/mt on July 1, OPIS data showed.
* The price spread between ULSD CIF cargoes in the Med and Northwest Europe is at an unusually wide premium of over $14/mt, compared to $3/mt earlier in the year, pointing towards the relative tightness of the Med, according to sources and OPIS data.
Diesel shipment flows
* Russian diesel/gasoil exports to the Mediterranean have all but dried up. Around 92,000 barrels/day went to Med ports in August, compared to 508,000 b/d in April, according to Vortexa shipping data.
* Mick Strautmann from Vortexa confirmed to OPIS that there is a surge in diesel cargoes from the U.S. Gulf Coast and India going to the Mediterranean, particularly into Turkey.
* U.S. Gulf Coast diesel/gasoil exports to the Med stood at 296,000 b/d in August, according to Vortexa data. Comparatively, in August 2025 they amounted to just 86,000 b/d. Indian volumes to the Med reached a total of 102,000 b/d in August.
Reporting by Frederick Shaw, fshaw@opisnet.com; Editing by Rob Sheridan, rsheridan@opisnet.com