The Russian government has extended a ban on petrol exports until the end of 2024, the government said on Wednesday via its channel on the Telegram messaging app.
The decision was taken to maintain stability in the market during a period of increased seasonal demand and scheduled refinery repairs, the government said.
Russia imposed a six-month ban on gasoline exports in March, but due to market saturation, it suspended the prohibition between May and July.
According to the administration, deliveries made in accordance with intergovernmental agreements, such as those with Belarus, Kazakhstan, Kyrgyzstan, and Armenia, members of the Eurasian Economic Union, will not be impacted by the new ban.
Despite having vast energy reserves, Russia announced a similar embargo on the export of gasoline and diesel last year as rising gas prices reduced the purchasing power of Russians, who were already feeling the effects of the sinking currency because of sanctions.
According to official statistics, Russia produced 43.9 million tons of gasoline in 2023.
Moscow continues to rely heavily on oil and gas revenues as it directs its economic resources toward maintaining the military onslaught in Ukraine.
