Russia’s energy ministry has proposed extending the country’s partial ban on gasoline exports into September and October, according to a report by RBC daily.
The initial gasoline export restrictions were put in place for six months from March 1 to August 31, in an effort to prevent fuel shortages and stem rising prices after a series of Ukrainian drone attacks on Russian refineries and technical outages.
The export restrictions were suspended in May until the end of June, and that suspension was then extended until the end of July. However, Deputy Prime Minister Alexander Novak indicated on Monday that the government may decide to reinstate the gasoline export ban from August if there are supply shortages in the domestic fuel market.
Now, according to the RBC report, Russian Deputy Energy Minister Pavel Sorokin has written a letter to Novak proposing to extend the gasoline exports ban for September and October. The stated goal is to ensure stable supplies of fuel within Russia and safeguard the federal budget.
This move by the Russian government reflects its ongoing efforts to prioritize domestic fuel security amid the challenging geopolitical and economic environment. The potential extension of the export restrictions underscores Russia’s concerns about maintaining adequate gasoline supplies for its own market.
The decision on whether to extend the export ban beyond July will be closely watched, as it could have implications for global gasoline trade flows and prices.