Russia bans gasoline exports

It has been reported that Russian Deputy Prime Minister Alexander Novak has ordered a ban on gasoline exports starting April 1. Pointing to significant fluctuations in the prices of oil and petroleum products due to the crisis in the Middle East, Novak stated, "At the same time, the high demand for Russian energy resources in foreign markets continues to be a positive factor."

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In a written statement from the Russian government, Novak's remarks during a meeting with officials regarding developments in the oil sector were included.

During the meeting, Novak pointed to significant fluctuations in the prices of oil and petroleum products due to the crisis in the Middle East and assessed, "At the same time, the high demand for Russian energy resources in foreign markets continues to be a positive factor."

Sharing information that the distribution of petroleum products in Russia continues steadily, Novak stated, "Companies in the sector have confirmed that there are sufficient stocks of gasoline and diesel fuel and that oil refineries are operating at high capacity to meet domestic demand."

Stating that stability in the domestic market will be maintained and that the domestic market will be prioritized, Novak instructed the Russian Ministry of Energy to prepare the relevant draft decree to ban gasoline exports starting April 1.

Russia occasionally implements export bans on various types of fuel to maintain stability in the domestic market.

It is estimated that Russia, one of the world's largest producers of petroleum products, produced approximately 5 million tons of gasoline last year.

News Source: 12punto