Russia Self-Sanctions

September 22, 2023

What is the impact of the Russian fuel export ban?

On September 21, 2023, Russia announced that it would temporarily ban exports of diesel and gasoline, to lower the prices of these products for Russian consumers.  As global oil prices increased, exports have become more profitable for Russian refiners, raising domestic prices and reducing availability of diesel and gasoline.  The export ban goes into effect immediately but exempts exports to Armenia, Belarus, Kyrgyzstan and Kazakhstan, as well as exports for humanitarian help, exports under intergovernmental agreements and for Russian military in foreign countries.  It is unclear what will happen to existing sales that have not been loaded yet, we assume they will be shipped.

This week we will take a look at Russia’s exports and the potential impact of this ban.

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