Russia has announced a temporary ban on aviation fuel exports until the end of November in response to intense Ukrainian attacks on Russian oil refineries. According to analysts, at least 16 attacks on fuel facilities in the Russian Federation were carried out in May.
This is reported by Finway
Scale of Attacks and Their Consequences
As a result of drone attacks, eight out of the ten largest refineries in the country were affected. In particular, the Yaroslavl Oil Refinery, owned by “Rosneft” and “Gazprom Neft,” suffered three strikes. Additionally, “Lukoil” facilities in Nizhny Novgorod and Perm were attacked twice each. These strikes led to a sharp reduction in oil processing volumes, which fell to the lowest levels in the last 16 years.
Impact on the Market and Further Steps by Russia
The Russian authorities explain the export ban as a necessity to “protect the domestic market” during a period of rising fuel demand in the summer. Although Russia is not a key player in the global aviation fuel market, the consequences of the export restrictions may be felt in the domestic market and affect prices for consumers.
Due to reduced loading at oil refineries, Moscow has increased crude oil exports in recent weeks, trying to simultaneously curb fuel shortages and stabilize prices at gas stations.
“The attacks are already putting pressure on Russian refining, which has fallen to a 16-year low. Due to lower refinery utilization, Moscow has increased crude oil exports in recent weeks while trying to curb fuel shortages and prices at gas stations.”