Russia lifted the ban on gasoline exports until June 30

This Monday, Russia suspended a temporary six-month ban on gasoline exports, introduced in February to stabilize the situation on the Russian fuel market, giving the green light for the product to be released by June 30.

“The government is suspending the temporary ban on oil exports to fuel producers until June 30, 2024,” the Council of Ministers said in its Telegram channel.

However, the government noted that “restrictions will remain in place from July 1 to August 31.”

The ban on gasoline exports was announced on February 29 for a period of six months, until August 31, in order to stabilize the situation on the Russian fuel market due to increased demand in the spring-summer period.

This is the second ban on Russian fuel exports since September, when the Russian leader banned the export of gasoline and diesel fuel to stabilize the market.

According to the government, this ban does not apply to supplies covered by intergovernmental agreements, including to countries of the Eurasian Economic Union, to fuel exported from the country for personal use, or to fuel exported for humanitarian assistance.

On September 21, the Russian chief executive banned the export of fuel – gasoline and diesel – a measure that did not apply to Kazakhstan, Belarus, Armenia and Kyrgyzstan.

Russia was forced to introduce these restrictions in September as rising international fuel prices prompted Russian companies to increase exports of gasoline and diesel fuel, which, coupled with the progressive devaluation of the ruble caused by the war, meant higher prices for Ukraine.

This measure had the expected effect and caused a significant drop in gasoline and diesel prices in most Russian regions, which allowed the government to resume diesel exports in October and gasoline exports in November.