MOSCOW: Russia has partially lifted its temporary ban on gasoline exports, allowing producers to resume exports while extending the restrictions for other exporters until January 31, 2025, the government announced on Saturday, November 30, 2024.
The initial ban on gasoline exports, implemented earlier this year, was set to expire by the end of 2024. However, the revised measures now permit exports to countries within the Moscow-led Eurasian Economic Union and nations like Mongolia, with which Russia has intergovernmental fuel supply agreements.
In a statement, the government said the decision aims to stabilize the domestic fuel market, support the oil refining sector, and curb illicit gasoline exports. The Energy Ministry had proposed lifting the ban on all types of gasoline exports starting next month, but only for producers. According to a source, the restrictions may remain in place for two additional winter months for other exporters, though the ministry has declined to comment.
News of the government's decision caused gasoline prices to rise on the commodity exchange. Public organizations representing retailers, traders, and brokers have since written to Deputy Prime Minister Alexander Novak, urging a postponement of the export ban lift until the domestic market achieves full saturation and exchange trading volumes increase. This prompted ministries to reassess the situation.
Major gasoline producers in Russia include Gazprom Neft's Omsk refinery, Lukoil's NORSI refinery in Nizhny Novgorod, and Rosneft's Ryazan refinery.
In 2023, Russia produced 43.9 million metric tons of gasoline, exporting 5.76 million tons—approximately 13% of its total production. Key importers of Russian gasoline include African nations such as Nigeria, Libya, and Tunisia, as well as the United Arab Emirates.
India and Russia Forge Stronger Railway Partnership with New Investment Plans
Putin Announces Russia Will Use New Hypersonic Missile in Combat
Russia Launches Missile Strike on Ukraine in Response to Kyiv's First Use of Long-Range American