Russian President Vladimir Putin announced on Thursday that Russia will not supply diesel fuel to international markets until sanctions against the country are lifted. Speaking at the Valdai Discussion Club forum in Moscow, Putin emphasized that despite having adequate diesel reserves, restrictions and bans on Russian oil and petroleum exports are preventing the fuel from reaching global markets.

Putin also addressed recent strikes by Ukrainian forces on Russian oil refineries, describing them as having partially achieved their objectives and causing an estimated loss equivalent to about 1% of Russia's gross domestic product. He indicated that Russia is taking measures in response to these attacks.

The Russian government recently extended a ban on diesel exports by domestic fuel producers through the end of October, a move contributing to tighter supply in global energy markets. This development comes amid ongoing conflicts impacting fuel availability, including wars involving Ukraine and Iran, which have collectively disrupted global energy supplies.

Diesel prices have risen sharply worldwide, with prices in the United States surpassing $6.50 per gallon, reaching record highs. In response to the situation, US President Donald Trump earlier urged Ukraine to cease attacks on Russian oil facilities, citing the strikes as a factor exacerbating the global diesel shortage and contributing to the surge in fuel costs.

The interplay between sanctions on Russia, military actions, and export restrictions continues to create volatility in the international diesel market, affecting economies reliant on stable fuel supplies.