Oil Giant Capitulates, Forced to Import Petrol

Russia, long known as one of the world’s largest exporters of oil and fuel, is now forced to take an unusual step. The country is reportedly set to import petrol by sea in June 2026 to address a domestic supply shortage. According to four industry sources cited by Reuters, Russia is expected to receive a petrol cargo via one of its western ports. One source mentioned the petrol will be shipped from Asia, though they did not specify the volume or the supplier. “The petrol will be delivered from Asia,” one industry source familiar with the plan said, adding that such a move is rare for Russia. Previously, Russia had considered importing petrol by sea last year, but domestic supply was deemed sufficient at the time. This year’s crisis was triggered by a series of Ukrainian drone strikes targeting oil refineries, pipelines, and fuel storage facilities in Russia. The latest attacks reportedly hit the TANECO refinery and the Moscow refinery, disrupting processing activities at both facilities. The impact is now being felt across various regions. According to data compiled by Reuters, fuel shortages have been reported in about a dozen Russian regions. Authorities in Russian-controlled Crimea and two regions in Siberia have confirmed a lack of petrol supply. To safeguard domestic stocks, the Russian government has imposed a ban on petrol exports for producers until the end of July. This policy was enacted ahead of the summer season, when demand for fuel for road travel typically surges sharply. Moscow has also relied on additional supplies from Belarus and, on several occasions, requested limited volumes from Kazakhstan. However, industry sources say neither country has sufficient spare capacity if Russia faces a deeper supply crisis. One source assessed that imports by sea would only be a temporary solution. Aside from logistical constraints, higher shipping costs make it difficult for this option to provide significant additional volume to the Russian domestic market. Ironically, Russia remains a major global petrol exporter. According to industry sources, the country exported nearly 5 million metric tonnes of petrol last year, equivalent to roughly 117,000 barrels per day.