The Russian government announced on Tuesday that it is extending a ban on diesel exports by producers until the end of October, Reuters reported. The measure further increases pressure on the global energy market, which is already shaken by ongoing conflicts and supply shortages, BTA reported.
Fuel shortages and sharp price increases are among the main problems in global markets, especially in the United States, where diesel prices have reached a record high of over $6.50 per gallon (3.78 liters). Wars in Iran and Ukraine are restricting fuel supplies, posing a political risk to US President Donald Trump ahead of November midterm elections.
The price of diesel at UK petrol stations has also hit record levels due to the war between the US, Israel and Iran, according to figures released by the British motoring body RAC on Monday.
Russia has repeatedly imposed restrictions on petrol and diesel exports to curb rising domestic prices and deal with shortages caused by Ukrainian drone attacks on oil refineries.
In late August, Moscow extended a ban on diesel exports until the end of September, allowing deliveries to countries such as former Soviet republics and Mongolia under intergovernmental agreements.
Russia is usually the world's second-largest exporter of diesel after the US. The country had already reduced its exports in the summer before imposing a ban on supplies to international markets, Reuters recalls.