Russia to introduce ban on gasoline exports from April 1, govt says

Kitco Media
By Reuters
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Reuters
Russia to introduce ban on gasoline exports from April 1, govt says teaser image

MOSCOW, March 27 (Reuters) - Russian Deputy Prime Minister Alexander Novak on Friday instructed the energy ​ministry to draft a resolution banning gasoline ‌exports from April 1, the Russian government said.

The state-run TASS news agency earlier reported that the ban ​would remain in place until July 31.

Novak ​said that turmoil in the global oil ⁠and oil products market, caused by the crisis ​in the Middle East, is leading to significant price ​fluctuations. At the same time, the high demand for Russian energy resources in foreign markets remains a positive ​factor, he added.

Crude oil processing volumes remain ​at last year's level, ensuring a stable supply of oil ‌products, ⁠the government said in a statement.
Several regions in Russia and parts of Ukraine under Russian control were reporting gasoline shortages last year after ​Ukraine stepped up ​attacks ⁠on Russian oil refineries and amid a seasonal surge in fuel demand.

Russia ​has repeatedly imposed curbs on gasoline ​and diesel ⁠exports to rein in rising fuel prices and tackle shortages.

According to industry sources, the country exported ⁠nearly ​5 million metric tons ​of gasoline last year, or about 117,000 barrels per day.

Reporting by ​Marina Bobrova and Maxim Rodionov Editing by Louise Heavens

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