Putin says Russia won't supply diesel to global markets until sanctions are lifted
USO•Vladimir Putin said Russia will not supply diesel to global energy markets until sanctions against Moscow are lifted. Russia extended its diesel export ban for fuel producers through the end of October, while U.S. diesel prices have topped $6.50 a gallon.
1. Diesel supply statement
Speaking at the Valdai Forum in Moscow, Putin said Russia has enough diesel but it will not reach global markets because of bans and sanctions on Russian oil and petroleum products. He said Ukrainian strikes on Russian oil refineries had cost Russia 1% of its gross domestic product and that Russia was responding in kind.
2. Export ban and prices
Russia extended a ban on diesel exports for fuel producers through the end of October. U.S. diesel prices have risen above $6.50 a gallon as the wars in Iran and Ukraine constrain fuel deliveries.
