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Russia Reimposes Gasoline Export Ban from Aug. 1

OIL PRODUCTS

Russia will reinstate its gasoline export ban in August while the Energy Ministry has proposed the ban be extended into Sep-Oct according to Deputy PM Alexander Novak.

  • An exception to the ban had been in place from May 20 to July 31.
  • "That exception comes to an end on August 1. The automatic ban on petroleum product exports, this applies only to gasoline, it is being reinstated. That is, the ban will be reinstated on August 1," Novak said.
  • The ban has been used intermittently to try and keep the domestic fuel market well supplied and avoid price spikes.

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