Russia bans diesel exports

The Russian government has banned diesel exports as Ukrainian drone attacks have significantly damaged the country’s refining capacity. The ban will take effect on 31 July. Russia is normally the world’s second-largest diesel exporter, shipping diesel notably to the Middle East, Brazil and Turkey. The market price of diesel rose 14% on news of the ban. Ukraine has struck Russia’s ten largest refineries as well as a large number of smaller facilities since April. Supplies of petrol and diesel have become very difficult for the population to obtain, and Russia has begun importing refined petroleum products. An estimated 20% of Russian refining capacity is thought to be out of service.