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Russian Diesel Shipments Drop 11% In October Due To The Export Ban
The temporary ban on exports of Russian diesel and heavy refinery maintenance reduced Russia’s diesel exports by sea by 11% in October compared to September, according to data from LSEG and trade sources cited by Reuters. On September 21, Russia surprised the markets by announcing a temporary ban on exports of gasoline and diesel to stabilize domestic fuel prices amid soaring crude prices and a weak Russian ruble. Diesel and gasoline exports were temporarily banned to all countries except for four former Soviet states—Belarus, Armenia, Kazakhstan, and Kyrgyzstan. Since the EU embargo on imports of Russian fuel ... (full story)