Russia Mulls Full Diesel Export Ban

The Kremlin is reportedly considering a full ban on diesel exports as an extended campaign of Ukrainian attacks on Russia’s refineries has sparked fuel shortages across the country.

President Vladimir Putin said Sunday in a televised meeting that this is one of various measures under discussion, according to media reports. Local news agency Interfax had reported Friday that the decision about the ban had been postponed for one more week.

With Russia standing as the world’s second largest diesel exporter, a full export ban would tighten supplies globally.

Russian diesel exports have already fallen to multi-year lows as a result of refinery outages caused by Ukrainian strikes. According to Vortexa, exports averaged 480,000 b/d over June 1-25, down 53% from a year ago.

This reduction in volumes out of Russia is likely supporting global diesel margins. The diesel crack in Northwest Europe remains well above $40/barrel despite the reopening of the Strait of Hormuz — diverging from crude oil which has fallen back to pre-war price levels. The NWE diesel crack had averaged just under $25/bbl over the first two months of 2026, prior to the start of the war.

Once the main source of diesel supplies to Europe, Russian oil is currently banned in the EU and in the U.K. due to the invasion of Ukraine. Brazil, Turkey and the north of Africa have emerged in recent years as the largest buyers of Russian diesel, benefiting from discounted prices relative to non-sanctioned producers.

Reporting by Jaime Llinares Taboada, jllinares@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com