According to Deputy Prime Minister Alexander Novak, Russia may decide to reinstate a gasoline export ban from August if there are supply shortages on the domestic fuel market.
Novak stated that the domestic fuel market had been stable so far, but there had been some difficulties with the popular Ai-95 gasoline grade, which were being dealt with. However, he warned that “If the situation gets tense, we will not extend the waiver for gasoline exports.”
Russia initially partially banned gasoline exports for six months from March 1, but later exempted a Moscow-led economic union and some countries with which it has direct inter-governmental agreements on fuel supplies, such as Mongolia. The ban was introduced to pre-empt fuel shortages and stem a rise in prices after a spate of Ukrainian drone attacks on refineries and technical outages.
The restrictions were suspended in May until June 30 and that suspension was then extended until the end of July. Now, Russia’s Federal Antimonopoly Agency has said it wants to reinstate the gasoline export ban from August 1 to help meet fuel demand during harvesting season and to safeguard price stability.
The potential reinstatement of the gasoline export ban highlights Russia’s concerns about maintaining domestic fuel supply and price stability, particularly as the country faces ongoing challenges in its refining and distribution infrastructure. This could have implications for global gasoline markets if Russia, a major producer, were to restrict exports.