Oil & Gas

21 May 2024

Russia Suspends Ban on Gasoline Exports Until June 30, Government Says

21 May 2024  by reuters   

A Russian state flag flies near a tower of the Kremlin behind trees in central Moscow, Russia September 21, 2022. REUTERS/Evgenia Novozhenina/File Photo Purchase Licensing Rights
Russia's government on Monday suspended a ban on gasoline exports until June 30.

In a statement published on Telegram, it said the ban would remain in place from July 1 to Aug. 31.

"This decision was taken with due account of the domestic market for automobile fuel and to prevent a decline in refining volumes at specific refineries owing to excessive stocks of automobile fuel," the statement said.

It also aimed, the statement said, to free up ports from volumes of fuel which had not been exported because of the restrictions.

Interfax news agency, quoting the Energy Ministry, later said that the government was keeping close watch on the domestic fuel market and could extend a ban in future if needed.

The government imposed the ban in March to offset excessive demand for petroleum products and to stabilise prices in the domestic market.


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