The length of Russia’s ban on exports of diesel and gasoline will go a long way to determine its impact on the tanker market, says Poten & Partners.
The Kremlin has said the ban is “temporary” and designed to address rising domestic energy prices, but it gave no time frame for when it would end.
The export ban goes into effect immediately but exempts exports to Armenia, Belarus, Kyrgyzstan and Kazakhstan, as well as for humanitarian help, under intergovernmental agreements and for the Russian military in foreign countries.
