Russia prohibits gasoline export for 6 months

From today onwards, Russia will prohibit gasoline exports for the time frame of the next six months, following the hike in demand from both consumers as well as farmers.  

 

Member states of the Eurasian Economic Union, along with Mongolia, Uzbekistan, and two Russian-supported separatist regions of Georgia - South Ossetia and Abkhazia are exempted from the export restriction imposed by Moscow beginning from March 1.  

 

Followed by the increase in domestic prices, last year also Russia banned gasoline exports from September 21 and November 17.  

 

In 2023, Russia's gasoline export was worth 5.76 million tons which was nearly 13% of its production. 

 

The ban, initially reported by Russia's RBC news outlet, was later confirmed by a spokesperson for Deputy Prime Minister Alexander Novak, who oversees the country's vast energy sector and is a prominent figure in President Vladimir Putin's government.  

 

This measure also aims to ease refinery maintenance in Russia, which stands as the world's second-largest oil exporter.