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Oil & Gas

Tuesday
27 Feb 2024

Russia to Ban Gasoline Exports for 6 Months, RBC Daily Reports

27 Feb 2024  by reuters   

Gasoline tank trucks are seen outside the Rosneft Achinsk oil refinery plant, one of the biggest Siberian fuel suppliers, near the town of Achinsk, some 188 km (117 miles) west of Krasnoyarsk, April 28, 2011. REUTERS/Ilya Naymushin Purchase Licensing Rights
Russian Prime Minister Mikhail Mishustin has approved a ban on gasoline exports for six months starting from March 1, the RBC daily reported on Tuesday, citing two sources.

The temporary export ban does not apply to the agreed volumes of supplies to the Eurasian Economic Union countries, Mongolia, Uzbekistan, Abkhazia and South Ossetia, RBC said.

Deputy Prime Minister Alexander Novak earlier addressed the prime minister with a proposal to introduce the temporary ban. In a letter dated Feb. 21, Novak noted that seasonal demand for the fuel will soon pick up in the domestic market.

Last September, Russia introduced a ban on fuel exports - except to Belarus, Kazakhstan, Armenia and Kyrgyzstan - in order to tackle high domestic prices and shortages. Almost all the restrictions were subsequently removed by November.

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