BREAKING: Russia Halts All Exports of Gasoline and Diesel. Potentially huge preparations for WW3?
(citizenwatchreport.com)
FIFTH GEN WW3
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I follow Russia's activities closely through Telegram and also checked RT. There is nothing about stopping gasoline or diesel.
Here is the Bloomberg link: www.bloomberg.com/news/articles/2023-09-21/russia-temporarily-limits-diesel-and-gasoline-exports?
*Russia temporarily banned exports of diesel in a bid to stabilize domestic supplies, driving European prices higher in already tight global fuel markets.
So far this year, Russia was the world’s single biggest seaborne exporter of diesel-type fuel, narrowly ahead of the US, according to Vortexa data compiled by Bloomberg. The country shipped more than 1 million barrels a day during January to mid-September, with Turkey, Brazil and Saudi Arabia being among the main destinations.
The ban, which also applies to gasoline, comes into force on Sept. 21, and doesn’t have a final date, according to the government decree.*
Update: Now RT has it: https://www.rt.com/business/583355-russia-restricts-fuel-exports/
I wonder why Saudi Arabia is buying fuel from Russia.
It allows them to sell more to Europe etc. from their own supplies. It is a way of getting Russian oil to other markets in spite of the sanctions. The Saudis charge a premium and the oil flows to whoever will pay.
"tight global fuel markets" I think is the key - between this and OPEC cutting productions, get ready for $5 gasoline again, possibly higher. Inflation is headed back up for election year.
Even more inflation if the war spreads to Europe etc. It is a good strategic move to start keeping more of the refined fuel at home to prepare for disruptions. That's why we have the strategic oil reserve - or at least we used to before Biden sold most of it off.