Russia Reinstates Gasoline Export Ban Amid Rising Domestic Prices

The Russian government has reintroduced a ban on gasoline exports, effective from September 1 until the end of the year, in an effort to stabilize domestic prices following significant increases. This measure comes in response to rising fuel demand during the summer season and scheduled maintenance at oil refineries, some of which have also been damaged by Ukrainian drone strikes.

Russia initially banned fuel exports from March 1 but lifted the restriction from May 20 until the end of July, citing "domestic market saturation" as the reason for the temporary reprieve. However, the new ban aims to curb further price hikes and ensure sufficient fuel supply within the country.

The ban does not apply to supplies under intergovernmental agreements, including those with countries from the Eurasian Economic Union, such as Belarus, Kazakhstan, Kyrgyzstan, and Armenia. According to official data, Russia produced nearly 44 million tons of gasoline last year. The sharp rise in retail prices in autumn 2023 exacerbated the economic strain on the population, already burdened by the weakening ruble due to Western sanctions.