MOSCOW: Russia is contemplating lifting its gasoline exports ban, officers and sources mentioned on Tuesday, as oil refineries return from upkeep and gasoline stockpiles rise.
Russia imposed a partial gasoline exports ban for six months from March 1 in an effort to pre-empt gasoline shortages and stem an increase in costs following a spate of Ukrainian drone assaults on refineries and technical outages.
Fuel exports have continued to a Moscow-led financial union and to some international locations with which Russia has direct inter-government agreements on gasoline provides, akin to Mongolia.
Russia in 2023 produced 43.9 million tons of gasoline and exported about 5.76 million tons, or about 13% of manufacturing. The largest importers of Russian gasoline are primarily African international locations, together with Nigeria, Libya and Tunisia, and likewise the United Arab Emirates.
“The energy ministry is now proposing to consider the issue of allowing the export of gasoline for a certain period,” appearing Deputy Prime Minister Alexander Novak advised Interfax information company.
He additionally mentioned the difficulty could be thought of by the federal government quickly.
Novak isn’t in a everlasting function as the brand new authorities has not been formally introduced following the inauguration of Vladimir Putin for his sixth time period as Russian President.
“So far, the measures that were taken on March 1 to ban the exports have worked in full. The market is saturated and even oversaturated,” Novak mentioned.
Industry sources additionally say that Russia’s home gasoline inventories are full and that some refineries have needed to reduce major oil processing so as to not overproduce gasoline.
Russia imposed a partial gasoline exports ban for six months from March 1 in an effort to pre-empt gasoline shortages and stem an increase in costs following a spate of Ukrainian drone assaults on refineries and technical outages.
Fuel exports have continued to a Moscow-led financial union and to some international locations with which Russia has direct inter-government agreements on gasoline provides, akin to Mongolia.
Russia in 2023 produced 43.9 million tons of gasoline and exported about 5.76 million tons, or about 13% of manufacturing. The largest importers of Russian gasoline are primarily African international locations, together with Nigeria, Libya and Tunisia, and likewise the United Arab Emirates.
“The energy ministry is now proposing to consider the issue of allowing the export of gasoline for a certain period,” appearing Deputy Prime Minister Alexander Novak advised Interfax information company.
He additionally mentioned the difficulty could be thought of by the federal government quickly.
Novak isn’t in a everlasting function as the brand new authorities has not been formally introduced following the inauguration of Vladimir Putin for his sixth time period as Russian President.
“So far, the measures that were taken on March 1 to ban the exports have worked in full. The market is saturated and even oversaturated,” Novak mentioned.
Industry sources additionally say that Russia’s home gasoline inventories are full and that some refineries have needed to reduce major oil processing so as to not overproduce gasoline.
