Russian authorities discuss possible gasoline export ban — sources

Business & Economy March 25, 17:14

Measures to stabilize Russia’s fuel market will be discussed on Friday at a meeting between industry representatives and Russian Deputy Prime Minister Alexander Novak

MOSCOW, March 25. /TASS/. Government agencies are currently continuing discussions on the possibility of reinstating a ban on gasoline exports for producers, two industry sources told TASS. According to them, no decision has been made yet, and the issue concerns gasoline specifically, not diesel fuel.

In general, measures to stabilize Russia’s fuel market will be discussed on Friday at a meeting between industry representatives and Russian Deputy Prime Minister Alexander Novak. The issue of exports will also be considered, one of the sources added, noting that a decision may be made on Friday.

Another source said that government agencies have not yet reached a unified position on the need for a ban, since such a measure alone cannot fully resolve the issue of seasonal increases in fuel demand, but it could be adopted as part of a broader set of measures.

Speaking at a meeting of the Energy Ministry earlier on Thursday, Novak said the Russian government must take measures as soon as possible to prevent fuel price increases at gas stations and ensure stability in the domestic fuel market amid the global energy crisis. According to him, global prices for petroleum products and crack spreads (the difference between the price of crude oil and petroleum products derived from it) have risen significantly.

On March 19, Anton Rubtsov, director of the oil and gas department at Russia’s Energy Ministry, said that the issue of banning gasoline exports from Russia is not currently urgent, but the government could make such a decision and the option exists.

Russia currently has a temporary ban on exports of gasoline, diesel and other fuels, but only for non-producers (traders), which remains in effect until the end of July. However, since January 31, gasoline exports for petroleum product producers were allowed ahead of schedule — the restriction no longer applies to this type of fuel.

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