Russia’s decision to limit fuel exports “dealt a blow to Europe” – Kommersant
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Diesel fuel prices in Europe immediately increased by 5% shortly after Russia introduced a temporary restriction on the export of gasoline and diesel, a British newspaper reports. The Guardian. As the publication notes, the Russian authorities “dealt a blow to Europe” with their decision.
As the publication notes, the decision of Russian officials was made to stabilize prices on the Russian domestic market, but the negative effect of the restriction was felt in Europe. Thus, prices for diesel fuel in European markets on September 22 rose to more than $1 thousand per ton. The Guardian also indicated that the cost of Brent oil, according to the London Stock Exchange, increased by 1.18% per day and amounted to $94 .36 per barrel. Experts interviewed by British journalists also link the rise in oil prices to restrictions on the export of gasoline and diesel from the Russian Federation.
Since September 21, the Russian government has been temporarily banned export of commercial gasoline and diesel fuel. The export of commercial fuel to Abkhazia and South Ossetia, the countries of the Eurasian Economic Union (EAEU), and also within the framework of intergovernmental agreements remained permitted. The resolution did not specify a time frame for lifting the ban, but market participants believed that the embargo was unlikely to last more than a month. Otherwise, refineries will be forced to reduce processing due to overstocking with diesel fuel. The Russian Ministry of Energy said that the restrictions will remain in effect “indefinitely,” and Russian Presidential Press Secretary Dmitry Peskov announced that the export of gasoline and diesel will resume “immediately after the market stabilizes.”
Read more in the material “Internal combustion fuel.”
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