Russia's diesel and gas oil exports from the Black Sea reached zero in the week ending September 24, marking the first time in recorded history. This historic decline is influenced by extensive export bans that have pressured trade and led to a sharp reduction in commercial flows from the world's largest energy producer.
Export History and Comparison to Last Year
In the week ending September 17, approximately 66,000 tons of diesel and gas oil were shipped from the port of Novorossiysk, which was above the five-week average of 51,000 tons. At the same time last year, Black Sea ports were averaging about 200,000 tons per week.
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Overall Export Decline and Domestic Pressures
The decline in Russia's diesel and gas oil exports has led to an overall stagnation in this sector. In the week ending September 24, total exports of diesel and gas oil from Russia decreased to 81,000 tons. These products were only loaded from the Baltic port of Primorsk and sent to destinations such as Morocco and Venezuela. In the past week, exports were made to at least five different destinations, including Turkey, Morocco, and Singapore.
In the current month, Russia has sent 448,000 tons of diesel and gas oil to various destinations, down from 535,000 tons in August and 713,000 tons in July. Additionally, exports of other oil products included 197,000 tons of unspecified clean products and 227,000 tons of naphtha. For two consecutive weeks, no jet fuel or gasoline has been shipped from Russia to the sea.
Security and Economic Impacts
The reduction in export volumes coincides with new commitments from the Kremlin to continue export restrictions. The Russian government announced on September 14 that it would extend the export ban until the end of October. Recent attacks on refinery facilities in Russia, such as Ilsky, Slavyansk, Perm, and Novoshakhtinsk, have put additional pressure on the domestic sector.
In light of these developments, Vladimir Putin, the President of Russia, issued an order on September 28 that restricts access to and distribution of information related to energy data. This information includes details regarding refining capacity, exports, and logistical traffic.
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