Russia Extends Ban on Gasoline Exports Until Year-End

To Maintain Stability in the Fuel Market

Russian President Vladimir Putin is holding a press conference after attending the Shanghai Cooperation Organization (SCO) summit held in Astana, Kazakhstan, on the 4th of last month (local time).
[Image source=Yonhap News]

The Russian government has extended the ban on gasoline exports until the end of the year.

On the 14th (local time), local media including Interfax reported that the Russian government announced in a statement that it has decided to temporarily restrict gasoline exports again from September 1 to December 31.

The Russian government explained that the reason for extending the export ban is "to maintain stability in the fuel market during the period of seasonal demand and ongoing refinery maintenance plans."

Earlier in February, the Russian government announced a temporary ban on gasoline exports from March 1 to August 31 to prevent domestic fuel shortages and price surges. However, due to concerns about oversupply in the domestic market, the measure was temporarily lifted from May 20 to the end of July.

The ban does not apply to countries that have agreements with the Russian government, including Eurasian Economic Union (EAEU) member states. Fuel exports for international humanitarian aid and personal use by civilians are permitted.