CommoditiesMediumUpdated•Originally published 1 October 2026•Updated 1 October 2026•
1 min read
Putin Links Resumption of Russian Diesel Exports to Removal of Sanctions
Key Facts
1The Russian government extended the ban on exports of diesel, marine fuel, and gasoil through October 31, 2026.
2The decision aims to maintain domestic fuel market stability and meet higher demand during the harvest season.
President Vladimir Putin stated that Russia will not supply diesel to global markets until international sanctions against Moscow are lifted. This stance marks a shift from the previous policy which had established a temporary ban on exports of diesel, marine fuel, and gasoil through October 31, 2026, to support the domestic market during the harvest season.
Phillips 66 (PSX) closed at $255.31 on September 30, 2026, as global distillate markets face prolonged supply constraints. According to ZeroHedge, the continued absence of Russian shipments is significant for global trade, as Russia previously accounted for approximately 10% of global seaborne diesel supply.