Russia may ban diesel exports after Ukraine drone attacks cripple refineries. Deputy PM Alexander Novak told Putin the step aims to prevent domestic shortages. Currently only non‑producer traders are blocked; a full ban would extend restrictions already on gasoline and jet fuel. Russia supplies about 11% of global diesel.

Last year Russia shipped 907,000 barrels a day of diesel and gasoil, but volumes fell to an average of 813,000 barrels in the first five months, hitting a six‑month low in May. Ukraine has struck refineries 47 times this year, pushing crude‑processing rates to the lowest level in two decades. Europe’s diesel futures rose 5.9% to $39.32 a barrel.

With Russia second only to the United States in diesel exports, a ban could lift global prices and tighten supply for key buyers like Turkey and Brazil. Roughly 40% of domestically produced diesel reaches foreign markets, so the policy would shave a sizable chunk off international flows. Traders should expect tighter spreads as markets adjust to reduced Russian availability.

Analysts note that any significant curtailment will force European refiners to source diesel from higher‑cost producers, potentially eroding margins. The move also tests Moscow’s willingness to use energy policy as leverage amid the ongoing conflict, a strategy that could invite retaliatory measures from Western governments.