The Russian Government has reinstated its ban on gasoline exports starting 1 August 2024 and has decided to extend the ban until the end of October 2024. Russia had originally imposed the temporary ban on gasoline exports on 1 March 2024 for a period of six months, until the end of August 2024. However, the embargo was suspended in May and exports resumed in June and July.
The ban was imposed to to keep prices stable amid rising demand from consumers and farmers and to allow for maintenance of refineries, according to Russia. The country previously imposed temporary restrictions on gasoline and diesel exports between September and November 2023 to tackle surging prices. Belarus, Armenia, Kazakhstan and Kyrgyzstan were exempt from the export ban as members of the Moscow-led Eurasian Economic Union. The latest ban exempts the same countries, as well as Uzbekistan, Mongolia and Georgia’s separatist regions of Abkhazia and South Ossetia.
In 2023, Russia produced 287 Mt of petroleum products (including 43 Mt of gasoline and 88 Mt of diesel) and exported 121 Mt (including 5 Mt of gasoline).
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