Epoxy curing agent News Russia imposes temporary restrictions on fuel exports to deal with domestic supply constraints

Russia imposes temporary restrictions on fuel exports to deal with domestic supply constraints

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Russia imposes temporary restrictions on fuel exports to deal with domestic supply constraints


According to foreign news on September 21, the Russian government said on Thursday that it would impose temporary restrictions on gasoline and diesel exports to deal with domestic supply constraints.

The statement did not specify how the restrictions would be implemented.

Russia has been facing gasoline and diesel shortages in recent months, with domestic wholesale fuel prices soaring as global oil prices rise and the ruble depreciates.

Russia has long had a policy of capping retail fuel prices in an attempt to bring them in line with official inflation.

The government said in a statement: "The temporary restrictions will help saturate the fuel market, thereby lowering consumer prices."

"Previously, the government increased the mandatory supply of gasoline and diesel on commodity exchanges in an effort to stabilize the fuel market," it added.

The statement also stated that the fuel export ban does not apply to fuel supplies to the Eurasian Economic Union (Kazakhstan, Belarus, Kyrgyzstan and Armenia) based on intergovernmental agreements.

Russia's energy ministry separately said it would block unauthorized exports of "grey" auto fuel.

In some areas of southern Russia, fuel is critical for grain harvesting.

Industry data shows that Russia’s seaborne diesel and gasoline exports fell by nearly 30% in the first 20 days of September to about 1.7 million tons compared with the same period in August.

"In order to meet the needs of agricultural producers, daily monitoring of fuel procurement has also been established and the quantity has been adjusted in a timely manner."

Data show that Russia will export 4.817 million tons of gasoline and approximately 35 million tons of diesel in 2022.

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