MOSCOW (Reuters) – The Russian government is considering a ban on exports of diesel due to rising domestic prices, the Kommersant daily reported on Wednesday, citing several unnamed sources.
Russia is the world’s top seaborne exporter of diesel just ahead of the United States.
Diesel is its top oil product export, at about 35 million metric tons annually, of which almost three-quarters is shipped via pipeline.
Since a full EU embargo on Russian oil product imports was imposed in February 2023, diesel supplies have been diverted to Brazil, Turkey, countries in Africa, Asia and the Middle East as well as ship-to-ship (STS) loadings.
The newspaper said the commodity exchange price of diesel in the European part of Russia had jumped by a fifth to 62,000 roubles ($716.35) per ton.
Wholesale prices are likely to rise due to high demand from farmers during the harvesting season and oil refineries maintenance.
Russia suspended exports of diesel last autumn for around two weeks but resumed pipeline overseas supplies.
Russia is restricting exports of gasoline and is due to resume a ban on gasoline exports from August 1.
One of the sources cited by Kommersant said diesel exports could be banned if prices sharply rise, but there is no decision yet.
The Russian energy ministry did not respond to a request for immediate comment.
($1 = 86.5500 roubles)