Russia announces gasoline export ban from April 1

MOSCOW: The Government of Russia on Friday (local time) announced a ban on gasoline exports starting April 1, aiming to prioritise domestic supplies and stabilise fuel prices amid global market turbulence due to the ongoing conflict in West Asia.

The announcement followed a meeting chaired by Russian Deputy Prime Minister Alexander Novak to review the situation in the domestic petroleum product market. According to a statement issued by the Government of the Russian Federation, Novak highlighted that the ongoing crisis in West Asia is causing significant fluctuations in global oil and petroleum product prices, although demand for Russian energy abroad remains strong.

During the meeting, particular emphasis was placed on the objective set by Russian President Vladimir Putin to prevent domestic fuel prices from rising above forecasted levels.

The Russian Ministry of Energy reported that oil refining rates remain consistent with March 2025 levels, ensuring a stable domestic supply, and that industry companies have sufficient gasoline and diesel reserves along with high refinery capacity utilisation to meet internal demand.

"Particular attention was paid to the objective set by the Russian President of preventing domestic fuel prices from rising above forecasts. The Ministry of Energy reported on the current situation in the domestic fuel market: oil refining rates remain at the March 2025 level, ensuring stable supplies of petroleum products. Industry companies confirmed the availability of sufficient gasoline and diesel fuel reserves, as well as high refinery capacity utilisation to meet domestic demand," the statement read. Following these discussions, Novak instructed the Ministry of Energy to draft a resolution banning gasoline exports from April 1, 2026, to stabilise domestic prices and guarantee priority supply to the local market. (ANI)

Also Read: Russia to ban gasoline exports for six months: Deputy Prime Minister Alexander Novak