Moscow: Russia’s Federal Antimonopoly Agency (FAS) has proposed reinstating a ban on gasoline exports from August 1 to manage fuel demand during the harvesting season and stabilize prices, the agency announced on Friday.
Initially implemented from March 1 for six months, the export ban exempted countries within a Moscow-led economic union and those with direct bilateral agreements on fuel supplies, such as Mongolia. The measure aimed to preempt fuel shortages and mitigate price spikes following Ukrainian drone attacks on refineries and technical disruptions. The suspension of these restrictions, initially set until June 30, was extended until the end of July.
FAS expressed support for reinstating the export ban starting August 1. A decision on the matter, involving input from FAS and the government, is expected by July 31.
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Deputy Prime Minister Alexander Novak and the energy ministry did not immediately comment on the proposal.
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“Restrictions on fuel exports will help saturate the domestic market during the period of increased demand, including that linked to (harvest) and scheduled repairs of oil refineries, as well as ensure price stability and availability of fuel for all categories of consumers,” FAS stated in a release.
