Russia last week announced a ban on exports of gasoline and diesel, as the Kremlin tries to tackle rising prices of the fuel at home and ensure enough domestic supply. The country in recent months has suffered shortages of gasoline and diesel. The ban affects all kinds of diesel and took effect on September 21. However, data from the London Stock Exchange Group shows that Moscow had already cut its seaborn diesel and gas oil exports by nearly 30% in the first 20 days of September, compared to the same period in the previous month. After curbing natural gas supplies to Europe last year, the Kremlin’s been accused of weaponizing energy once more by banning exports of diesel as the winter season arrives. What will be the likely impact?
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