Russia is contemplating reintroducing a ban on gasoline exports starting in August if domestic supply issues arise, Vice Prime Minister Alexander Novak announced on Monday.
Will Extend Exemption
According to Ziare Novak emphasized that the domestic fuel market has remained stable, but there have been some challenges with the popular Ai-95 gasoline, which have since been addressed.
"If the situation becomes tense, we will not extend the exemption for gasoline exports," Novak stated.
The Federal Antimonopoly Service of Russia indicated on Friday that it supports reinstating the export ban from August 1st to help meet domestic fuel demand during the harvest season and to ensure price stability.
Partial Export Ban
Initially, Russia had imposed a partial export ban on gasoline for six months starting March 1st. This ban excluded certain countries within a Moscow-led economic union, which have direct intergovernmental fuel supply agreements with Russia, such as Mongolia.
The ban aimed to prevent fuel shortages and curb rising prices following a series of Ukrainian drone attacks on refineries and various technical disruptions.
The restrictions were temporarily lifted in May and were supposed to last until June 30th, but the suspension was extended until the end of July. As the new deadline approaches, the possibility of reinstating the ban looms, reflecting ongoing concerns about domestic fuel availability.
Russia's gasoline market, particularly the Ai-95 class, has faced several disruptions in recent months.
'These issues were primarily driven by external factors like the drone attacks, which had significant impacts on refining operations, and internal technical problems. The government's measures have been geared towards stabilizing supply and preventing further price hikes, which could affect consumers and the broader economy.
