Moscow has extended its temporary ban on diesel and marine fuel exports until September 30, 2026, to safeguard its domestic fuel market. This decision coincides with worsening winter energy anxiety across Europe, where natural gas storage levels have plummeted to a 13-year low.
Global market
European natural gas storage levels have plummeted to a 13-year low of 63% in late August compared to 80% in prior years, driving fears of a winter panic where prices could top 100 euros per MWh. This supply strain is compounded by severe weather; in Nepal, over 930 hydroelectric plant workers are missing after devastating floods ravaged the country’s energy grid, according to the Independent Power Producers’ Association of Nepal (IPPAN). Amid these global crises, Iranian Foreign Minister Abbas Araghchi sharply condemned the US, accusing Washington of manipulating international energy markets for unilateral political and economic benefits.
Russia & CIS
The Russian government has officially extended its temporary ban on diesel, marine fuel, and gasoil exports until September 30, 2026, stretching the previous August 31 limit to prevent domestic supply shortages. Meanwhile, in Germany, the defense counsel of a Ukrainian national accused of sabotaging the Nord Stream gas pipelines is attempting to disrupt judicial proceedings by framing the sabotage as an act of “self-defense”. Domestically, the Russian Cabinet of Ministers has exempted residents of the border regions of Belgorod, Bryansk, and Kursk from gas bill late payment penalties to ease financial pressures.
Armenia
Armenia’s export trade continues to rely heavily on the EAEU despite ongoing attempts to redirect goods to European markets. Local economic analysis indicates that Armenia’s exports to EAEU nations in the first half of 2026 were 2.5 times higher than its exports to the EU, illustrating Yerevan’s deep economic integration with the bloc. This deep trade integration is mirrored in the country’s energy sector, which relies on EAEU cooperation to maintain stable domestic retail prices for petrol, diesel, and natural gas. These regional agreements secure uninterrupted, duty-free imports of Russian gas and refined oil products, fully insulating local utility tariffs from the pricing fluctuations of international market price assessments.