Putin’s Crisis Spirals With Grim New Rationing Blow

Key Points:

• Ukraine's recent drone strikes on major Russian oil refineries have reportedly disabled over 45% of Russia's refining capacity, exacerbating fuel shortages in the country.
• In response to fuel scarcity, several Russian regions have imposed gasoline sales limits and odd-even license plate restrictions, with some areas experiencing gas station closures due to supply issues.
• Russia has banned gasoline exports until January 2027 and diesel exports until the end of October to stabilize its domestic fuel market, impacting global diesel supplies as Russia is a major exporter.
• Rising diesel prices globally, driven by conflicts in Ukraine and Iran and reduced exports from major producers, have prompted former U.S. President Donald Trump to urge Ukraine to halt attacks on Russian fuel infrastructure and support a U.S. diesel export ban.
• Trump and Ukrainian President Zelensky discussed the energy crisis and potential war resolution at the U.N. General Assembly, with both leaders expressing optimism about progress toward ending the conflict.