Russian Deputy Prime Minister Alexander Novak today instructed the Energy Ministry to draft a decision to ban gasoline exports from April 1, Moscow said. State news agency TASS reported earlier that the ban would remain in force until July 31.
Novak said the turbulence in the global oil and its derivatives market, caused by the crisis in the Middle East, is leading to significant price fluctuations. At the same time, he added that high demand for Russian energy resources in foreign markets remains a positive factor.
The volume of crude oil forwarded for processing remains at last year’s levels, ensuring a stable supply of petroleum products, the government said in a statement.
Several regions in Russia and parts of Ukraine under Russian control reported shortages of gasoline last year, following intensified Ukrainian attacks on Russian refineries and amid a seasonal increase in fuel demand. Russia has repeatedly imposed restrictions on gasoline and diesel exports to curb rising prices and address shortages.
According to industry sources, the country exported nearly 5 million metric tons of gasoline last year, or about 117,000 barrels per day
.
