Tuesday, 02 January 2024 12:17 GMT

Russia prolongs export bar on gasoline till end of year


(MENAFN) Russia announced on Tuesday that its temporary ban on gasoline exports will remain in effect until the end of 2025, while additional limits on other fuel products are also being introduced.

According to the government, the move aims to “maintain a stable situation in the domestic fuel market.”

A separate measure was issued to curb exports of diesel, marine fuel, and other gasoils, including volumes purchased through exchanges. These rules will be enforced the day after official publication and remain valid until December 31, 2025. Deliveries made directly by producers of these fuels are exempt from the restrictions.

Officials had previously signaled their intentions. Deputy Prime Minister Alexander Novak noted earlier that the government was preparing to maintain restrictions on fuel exports until the end of the year.

Russia has repeatedly used such export curbs in recent years to stabilize domestic prices and safeguard internal supply, particularly during refinery maintenance periods or times of heightened seasonal demand. As one of the world’s top diesel suppliers, its policy decisions on exports are closely tracked by global energy markets.

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