Russia to Resume Diesel Exports as Stocks Replenish - Novak

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Russia will resume diesel fuel exports once sufficient stockpiles are formed, authorities are monitoring the market to prevent overstocking, according to a statement by Russian Deputy Prime Minister Alexander Novak, as reported by Interfax.

"Our key objective is to prevent overstocking. If there are sufficient reserves formed to avoid overstocking, we will naturally make a decision to open exports. Currently, the Ministry of Energy considers it prudent, based on the overall balance and the situation they are monitoring, to not export for now," Novak said on the sidelines of the Eastern Economic Forum (VEF).

• Earlier, the Russian government extended a ban on diesel fuel exports for producers until September 30. Export restrictions for other market participants will remain in place until January 31, 2027.