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| Russia lifts ban on exporting diesel to seaports via pipeline. (Source: DW) |
However, restrictions on petroleum exports remain in place.
The statement confirmed: "The Russian government has lifted restrictions on the export of diesel fuel transported to seaports by pipeline, provided that producers supply at least 50% of the diesel fuel produced to the domestic market."
Russia also raised fuel export duties for resellers to 50,000 rubles per tonne from 20,000 rubles and reintroduced subsidies or cut payments to refineries.
Restrictions on fuel exports from Russia, the world’s top seaborne fuel exporter, have pushed up global prices and forced some buyers to scramble for alternative sources of gasoline and diesel.
* Previously, on October 4, Russian Deputy Prime Minister Aleksandr Novak announced that the country will not sell crude oil under the price ceiling mechanism imposed by the Group of Seven (G7) and the European Union (EU).
Oil companies are complying with a decree from President Vladimir Putin that obliges Russian companies and individuals to avoid oil price caps in contracts with foreign buyers, Novak said, adding that Moscow’s crude is still traded at market prices.
“When the price cap was first introduced, we said it was an unworkable tool. It would make things worse for consumers and the entire global energy market,” he said.
President Putin has issued a special decree on non-compliance with the terms of delivery below the ceiling price in the contract. Our companies are working within the framework of the decree and we are closely monitoring this.”
In December 2022, the EU, G7 and their allies imposed a ban and a price cap of $60 per barrel on Russian seaborne crude exports. Similar restrictions were introduced in February on Russian petroleum products.
These measures are aimed at reducing Russia's energy revenues.
Shortly thereafter, President Putin signed a decree, effective February 1, introducing retaliatory measures against the price cap on Russian oil. The decree prohibits the supply of oil and petroleum products to countries that have imposed price caps in contracts and prohibits deliveries if the contracts directly or indirectly mention price caps.
“Now that Brent oil prices have increased, the discount on Russian oil has decreased. Our products are sold at market prices, which are higher than the ceiling,” the Russian Deputy Prime Minister said.
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