Russia’s Oil-Export Boom Undercut by Payouts, Diesel Sales Ban

Commodities Russia’s Oil-Export Boom Undercut by Payouts, Diesel Sales Ban Diesel curbs, jump in subsidies to refiners mute benefits to Kremlin’s war chest from crude flows Russia shipped the most crude in two months while another jump in prices propelled the value of those cargoes to the highest since before the full-scale invasion of Ukraine in 2022. But subsidies to refiners and a diesel exports ban are chipping away at Moscow’s war chest. In the four weeks through Oct. 4, overseas crude flows rose to 3.76 million barrels a day, tanker-movements data compiled by Bloomberg showed. That was the most since early August, and helped to meet the needs of refiners in key customers India and China, with supplies from the Persian Gulf still constrained by the hostilities between the US and Iran.