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Russian Fuel Ban Will Not Be Lifted Soon: Energy Minister

OIL

Russian Energy Minister Nikolai Shulginov said earlier Thursday that the fuel export ban will not be lifted soon and will remain in place until the domestic market stabilizes according to Tass reports.

  • "I will say one thing - expectations of a quick lifting of the fuel export ban are futile - the measure will last as long as necessary to stabilise fuel supply and prices," he said.
  • Most industry forecasts on the duration of the ban have been 2-6 weeks but it is unclear at present in what may be another attempt for Russia to weaponize energy prices by creating unclear timelines in a similar way to gas markets at this time last year.
Energy BulletsCommodities
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