Russia lifts the ban on exporting gasoline to producers

The Russian government announced on Saturday that it had lifted the temporary ban on gasoline exports from producers. However, the restrictions on other exporters such as independent traders or re-sellers will remain in place until January 31, 2025.

The original ban on gasoline exports would expire by the end of the year. The ban excludes supplies of former Soviet states to the Moscow led Eurasian Economic Union, as well as other countries such as Mongolia with whom Russia has intergovernmental agreements for fuel supply.

The statement states that the decision was made to maintain stability on the domestic fuel markets, support the oil refining economy, and combat grey motor gasoline exports.

The three largest refineries in Russia are Lukoil’s NORSI refinery in Nizhny Novgorod, Rosneft’s Ryazan and Gazprom’s Omsk.

In 2023, Russia produced approximately 43.9 million tons of gasoline. It exported around 5.76 millions tons or 13%.

The largest importers of Russian gas are mostly African countries. These include Nigeria, Libya Tunisia, and United Arab Emirates. (Reporting and editing by Maxim Rodionov, Vladimir Soldatkin and Toby Chopra).

(source: Reuters)