Russia to impose six-month ban on gasoline exports from March 1
Moscow, Feb 27 (IANS) – In a move to address the increasing demand for gasoline in the upcoming spring and summer months, Russia has announced a six-month ban on gasoline exports starting from March 1.
A spokesperson for Russian Deputy Prime Minister Alexander Novak stated that the ban aims to offset the potential growth in demand and stabilize the domestic fuel market. Additionally, there is a possibility of increasing the diesel sales rate on the stock exchange to 16 per cent.
The restriction, however, will not affect the countries in the Eurasian Economic Union, as reported by Xinhua news agency. This decision comes after a similar ban was implemented from September 21 to November 17 in 2023, which was lifted once the domestic fuel market achieved stability.
The ban on gasoline exports is a strategic measure by Russia to ensure that the local fuel market remains balanced and unaffected by external factors. This move reflects the government’s commitment to prioritizing the needs of its citizens and maintaining stability in the energy sector.
It remains to be seen how this ban will impact the global gasoline market and whether other countries will follow suit with similar measures to manage their own fuel supplies. The decision underscores the importance of strategic planning and foresight in ensuring energy security for nations across the world.
