Russia to curb fuel exports from April

Russian Deputy Prime Minister Alexander Novak has instructed the Ministry of Energy to prepare a proposal for a ban on petrol exports, due to come into force on 1 April. According to the TASS news agency, the measure could remain in place until 31 July.

The move comes in response to volatility on global oil and refined products markets linked to the crisis in the Middle East.

Novak pointed to significant price movements, while stressing that strong foreign demand for Russian energy resources remains a positive factor. The government said oil processing volumes are stable and in line with last year’s levels, ensuring sufficient fuel supplies.

Moscow has repeatedly imposed restrictions on petrol and diesel exports to stabilise the domestic market and prevent price rises. Similar steps were taken after some regions experienced fuel shortages due to attacks on refineries and seasonal demand surges.

According to industry data, Russia exported about five million tonnes of petrol last year, or roughly 117,000 barrels a day.

(reuters, max)