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Russia Bans Aviation Fuel Exports: In a major decision, Russia on Monday announced a ban on aviation fuel exports until November 30. The decision was taken to protect domestic supplies amid lower refinery production and increasing pressure on its energy infrastructure. The Russian government said that the export ban on aviation fuel was intended to keep the domestic fuel market stable. “The aim of this decision is to ensure stability in the domestic fuel market,” the government said.
The announcement comes following reports that Moscow was planning to restrict diesel and jet fuel exports after the country’s refinery production fell to multi-year lows due to repeated Ukrainian attacks on Russian energy facilities.
The government directed oil companies to reduce sales of fuel products to foreign markets. The directions were given following a crucial meeting about the domestic fuel situation, Russian news agency Interfax reported.
The meeting was chaired by Deputy Prime Minister Alexander Novak, Bloomberg reported.
The move comes after Ukrainian forces intensified attacks on Russian energy infrastructure, including oil refineries and pipeline facilities.
These back-to-back strikes have impacted Moscow’s fuel-processing capacity, further heightening concerns over maintaining domestic supplies.
It is to be noted that this period of the year witness higher seasonal demand in Russia.
Data from energy analytics company OilX showed that the country’s average refinery operations plummeted by about 4.69 million barrels per day in April. It was the lowest level reported in over 16 years.
This major decline in refinery operations has alarmed the government, putting pressure on it to prioritise domestic needs over exports.
It is worth noting that Russia is one of the world’s largest exporters of refined petroleum products. The country also sells a large quantity of diesel and aviation fuel to the global market.
Analytics have warned that this restriction could impact global supplies and put upward pressure on international fuel prices.
After a recent meeting on the domestic fuel market, Deputy Prime Minister Alexander Novak highlighted the need for monitoring fuel supplies and coordination between government agencies.
“It is necessary to continue constant monitoring of the situation in the domestic oil-product market to ensure coordination between federal agencies and companies, and, if necessary, to develop additional response measures in a timely manner,” Novak had said.
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