Russia lifts ban on gasoline exports

Russia's Energy Ministry said it has lifted restrictions on gasoline exports.

The reason given by the country is that maintaining high refining output over the past two months has helped ensure domestic supply and reduced wholesale prices. "There is a surplus of gasoline supply, including through the exchange channel," the Russian Energy Ministry said on November 17. Currently, the country's gasoline reserves have increased to about 2 million tons.

Russia imposed a temporary ban on oil exports on September 21 to address a domestic shortage that has caused prices to rise. At that time, only four countries – Belarus, Kazakhstan, Armenia and Kyrgyzstan – were exempted.

On October 6, the Kremlin eased the ban, allowing diesel exports by pipeline, but still banned gasoline exports. The sale of diesel and other fuels by truck and rail abroad was also banned at that time.

Diesel is Russia’s largest oil export, reaching about 35 million tonnes last year. Nearly three-quarters of that was shipped via pipeline. Russia also exported 4.8 million tonnes of gasoline in 2022.

The lifting of the ban could complicate Russia’s efforts to reduce its oil and oil product exports by 300,000 barrels per day until the end of the year, compared to the average in May-June. However, Russia confirmed that it would continue its voluntary supply cuts until the end of December, as previously announced to OPEC+.

Phien An ( according to Reuters )

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