Ukraine Offensive Leads to Fuel Shortages in Russia, Causing Gasoline Prices to Soar in Central Asian Countries and Prompting Them to Seek Alternative Supplies
Ukrainian drone attacks have damaged Russian oil refineries (e.g., the Omsk refinery in Siberia was shut down in early July), leading to domestic fuel shortages and "fuel tourism" in Russia. Central Asian countries, highly dependent on Russian fuel, have been affected. Kazakhstan's gasoline prices have risen by 15.6% this year, and it has banned exports. Kyrgyzstan and Tajikistan face severe shortages, with Tajikistan signing an agreement with Iran for 2.5 million tons of oil, gasoline, and diesel. Uzbekistan has also begun building strategic reserves.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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