Russia’s government said on Friday it had lifted a ban on pipeline diesel exports via ports, removing the bulk of restrictions installed on Sept. 21.
The restrictions for gasoline exports are still in place.
Diesel is Russia’s biggest oil product export, at about 35 million tonnes last year, of which almost three-quarters were shipped via pipelines. Russia also exported four point eight million tonnes of gasoline in 2022.
Global oil prices reversed early gains to decline after the news, As Brent futures dropped and were on track for their steepest weekly decline since March.
A government statement said, it lifted restrictions on exports of diesel fuel delivered to seaports by pipeline, provided that the manufacturer supplies at least 50% of the produced diesel fuel to the domestic market.