Russia extends ban on gasoline exports till yearend

The Russian government has extended its ban on gasoline exports until December 31, the Cabinet of Ministers said in a Telegram statement Wednesday.

The decision was made to maintain a stable situation in the fuel market during the period of ongoing seasonal demand and scheduled repairs carried out at oil refineries, according to the statement.

Russia initially introduced a ban on the export of gasoline from March 1 to August 31 to offset the growth in domestic demand in spring and summer. The ban was temporarily lifted from mid-May to July 31 due to the saturation of the domestic market and to prevent a reduction in oil refining.