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Market Chatter: Russia to Import Jet Fuel From Japan, Interest Grows in EVs as Fuel Shortages Spread

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Russia is preparing to import jet fuel originating from Japan through trade intermediaries, three sources briefed on the deal told Reuters on Friday, as sustained Ukrainian attacks on its refineries exacerbate fuel shortages.

The cargo of at least 200,000 barrels will load in Chiba, Japan in the first two weeks of July and head to South Korea where it will be transhipped before departing for an unknown destination in Russia, two of the sources said. Russia's jet fuel exports have more than halved this year, averaging 13,000 barrels per day.

Russia and South Korea's energy ministries declined Reuters' request for comment while Japan's Ministry of Economy, Trade and Industry did not immediately respond.has reached out to Russia and Japan's ministries for comment but could not reach South Korea's energy ministry.

Separately, the news agency reported on a surge in demand, albeit within a small existing market, for new Chinese electric vehicles as drivers seek work-arounds to an intensifying shortage of gasoline that has prompted lengthy queues to fill up.

More than half Russia's administrative regions now have some kind of restriction on sales, Radio Free Europe reported last week.

Electric cars and plug-in hybrids made up just over 4.3% of total new car sales in 2025, the Reuters article said, citing data from Russia's Autostat while installations of conversion kits that enable drivers to switch between gasoline and liquefied petroleum gas, have risen sharply.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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