Russia to ban exports of gasoline for 6 Months from March 1

Tuesday, February 27, 2024 – Russia has announced a six-month ban on gasoline exports from March 1 to compensate for rising demand from consumers and farmers and to allow for planned maintenance of refineries.

Russia previously imposed a similar ban between September and November 2023 in order to tackle high domestic prices and shortages, from which only four ex-Soviet states, Belarus, Kazakhstan, Armenia and Kyrgyzstan, were exempt.

The new ban was confirmed by Alexander Novak, a spokeswoman for the Russian Prime minister on Tuesday, February 27.

“In order to offset the booming demand for petroleum products, measures are needed to help stabilize domestic prices,” an internal letter Novak sent to Mishustin was quoted as saying by RBC.

This new ban on gasoline export will not extend to member states of the Eurasian Economic Union, Mongolia, Uzbekistan and two Russian-backed breakaway regions of Georgia – South Ossetia and Abkhazia