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Russia to Ban Gasoline Exports For Six Months From March

OIL PRODUCTS

Russia’s Prime Minister Mikhail Mushustin approved a six-month ban on gasoline exports starting 1 March according to RBC daily, citing sources.

  • The ban excludes exports to the Eurasian Economic Union, Mongolia and Uzbekistan.
  • Russia’s deputy prime Minister Alexander Novak proposed a temporary ban to gasoline exports to the government, as domestic demand will increase in spring due to spring field work, refinery maintenances and summer vacations, the RBC reported.
  • 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.
  • Russian gasoline exports in January and the first half of February declined by 27% on the year to 639,000 tons, sources told Kommersant earlier this month.
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