Russia lifts gasoline export ban

The government has temporarily lifted restrictions on gasoline exports, allowing local refineries to sell the fuel to foreign buyers until June 30, 2024. However, according to the government’s Telegram channel, the restrictions will be back in place from July 1 to August 31.

Maxim Bogodvid / RIA Novosti

The decision was made after stocks of gasoline had risen on the domestic market, to avoid forcing refineries to reduce throughput due to market overstocking.

Furthermore, the accumulated stocks need to be removed from ports where the unshipped fuel has been stuck since the export ban was imposed.

Russian companies are allowed to export gasoline from May 20 to June 30, according to a government resolution signed by Prime Minister Mikhail Mishustin on May 17. Russia imposed a six-month gasoline export ban on March 1 to avoid domestic fuel shortages and price hikes.

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