Moscow: Russia announced a 6-month ban on gasoline exports. The ban on exports will begin from March 1. Deputy Prime Minister Alexander Novak announced this.
Russia previously imposed a similar ban between September and November last year in order to tackle high domestic prices and shortages. Only four ex-Soviet states – Belarus, Kazakhstan, Armenia and Kyrgyzstan – were exempt.
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Russia in 2023 produced 43.9 million tons of gasoline and exported about 5.76 million tons, or around 13% of its production. The biggest importers of Russian gasoline are mainly African counties, including Nigeria, Libya, Tunisia and also United Arab Emirates. Russia last month reduced gasoline exports to non-Commonwealth of Independent States countries. The top gasoline producers in Russia in 2023 were Gazprom Neft’s Omsk refinery, Lukoil’s NORSI oil refinery in Nizhny Novgorod and Rosneft’s Ryazan refinery.
Exports of oil, oil products and gas are by far Russia’s biggest export. It is a major source of foreign currency revenue for Russia’s $1.9 trillion economy.
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