Russia temporarily allows gasoline exports

  • World
  • Tuesday, 21 May 2024

ST. PETERSBURG, May 20 (Xinhua) -- Russia has decided to suspend the ban on gasoline exports introduced earlier this year, the government said in a statement on Monday night.

According to the statement, the Russian government has temporarily allowed fuel producers to export gasoline until June 30, and the ban will remain in place for the period from July 1 to Aug. 31.

The decision was taken due to the sufficient supply of gasoline on the domestic market, as well as to prevent some refineries from reducing their refining capacity due to overstocking of gasoline, the government explained.

In order to stabilize the market amidst growing domestic demand, Russia introduced a ban on gasoline exports on March 1, which was supposed to expire on Aug. 31.

The ban does not apply to supplies under international intergovernmental agreements, including those between Russia and Eurasian Economic Union member states, as well as gasoline intended for personal consumption or international humanitarian aid.

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