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Russia will impose a six-month ban on gasoline exports from March 2024

The Russian government will impose a six-month ban on gasoline exports starting 1 March 2024 to keep prices stable amid rising demand from consumers and farmers and to allow for maintenance of refineries. Russia 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 2022, Russia produced 265 Mt of petroleum products (including 85 Mt of diesel and 42 Mt of gasoline) and exported 116 Mt (41 Mt of diesel and 4 Mt of gasoline). Russia was the second largest exporter of diesel in the world in 2022, behind the US and before Saudi Arabia. As for gasoline exports, Russia ranked 15th, far behind the US, the Netherlands, India and China.

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