Russia extends ban on petrol exports
Pravda Ukraine
The Russian authorities have decided to extend the ban on petrol exports for non-producers starting 1 March for a period of six months.
Source: Russian government statement, reported by industry outlet Enkorr
Quote: “The decision to prohibit the export of petrol for companies that do not produce it from 1 March to 31 August has been supported by Deputy Prime Minister Alexander Novak to balance the market during a period of increased demand,”
Details: However, oil refineries and oil companies that own them will still be allowed to export fuel.
Background:
- Reuters previously reported that the price of wholesale batches of petrol and diesel fuel decreased on the St. Petersburg International Commodity Exchange between 10 and 14 February. This was driven by reassuring news for buyers regarding the return of major refineries to operation and the possible extension of the petrol export ban, according to exchange data and traders.
- At the end of January, the Russian government decided to extend the ban on petrol exports for February, applying it to all companies except fuel producers.
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