Russia Halts Aviation Fuel Exports and Exchange Sales Amid Domestic Rationing

Impact verdict

Medium impact. Loss pathway: a government-mandated halt to aviation fuel exports and exchange sales, combined with coupon-based domestic rationing and airport-level fuel limits (including for international flights), points to a meaningful jet fuel supply shock inside Russia. This creates plausible downstream exposures for airline operations (delays, cancellations, refuelling disruption), refining business interruption, and trade credit in Russia/CIS. Materiality is held at medium because the disruption is policy-driven and national in scope, but no specific refineries, durations, or quantified insured losses are grounded in the available evidence.