Indian Government Extends Diesel and Gasoline Export Restrictions

The Indian government has announced the extension of export restrictions on diesel and gasoline as part of its efforts to ensure fuel availability in the domestic market. The extension follows the expiration of the restrictions on Friday with the end of the financial year. This extension may deter some Indian refineries, especially those belonging to private companies, from purchasing Russian fuel for re-export to other countries, including European nations that have halted purchases of refined products from Russia in light of its invasion of Ukraine.