Energy
The Real Reason Behind Russian Diesel Export Slump This Year
- Drone attacks have caused some decline in fuel exports
- Bigger impact has come from Russia boosting domestic supply
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Russia, a top global supplier of diesel, has been slashing its exports of the fuel in recent months, leading to widespread speculation that Ukrainian drone attacks are cutting how much the nation’s refineries can make.
But while there’s an element of truth in that argument, the decline has more to do with Vladimir Putin’s focus on avoiding domestic fuel shortages that could have fanned discontent by driving prices higher and boosting inflation.