Russia Implements Six-Month Ban on Gasoline Exports

World » RUSSIA | February 27, 2024, Tuesday // 11:37
Bulgaria: Russia Implements Six-Month Ban on Gasoline Exports @Pixabay

To address increased domestic demand and facilitate refinery maintenance, Russia has announced a six-month ban on gasoline exports starting from March 1, as reported by Reuters.

The ban, first reported by RBC and confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak, aims to alleviate rising prices and shortages in the domestic market. Similar bans were imposed in September and November of the previous year to mitigate these challenges.

During the ban, exports will be prohibited to all countries except for Belarus, Kazakhstan, Armenia, and Kyrgyzstan. Notably, member states of the Eurasian Economic Union (EAEU), including Mongolia and Uzbekistan, will be exempt from the restriction. Additionally, the ban will not apply to South Ossetia and Abkhazia, the two breakaway republics in Georgia supported by the Kremlin.

This decision underscores Russia's commitment to managing its domestic energy market while ensuring adequate supply for essential sectors such as agriculture. By temporarily halting exports, the government aims to balance the needs of its citizens and prioritize crucial maintenance activities at refineries.

The ban on gasoline exports reflects Russia's proactive approach to addressing economic challenges and ensuring stability in the energy sector. As the country navigates through ongoing market fluctuations, such measures are essential for maintaining stability and meeting domestic demand.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Russia » Be a reporter: Write and send your article
Tags: Russia, gasoline, exports, ban

Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria