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Ban on Petrol Exports Reintroduced in Russia, Effective till end of 2024
The Russian government has announced that it was reintroducing a ban on petrol exports for another six months.
The Russian government announced Wednesday that it was reintroducing a ban on petrol exports for another six months. This means that Russia will keep all its petrol for use inside the country.
According to the government, the ban is intended to “maintain a stable situation” on the domestic fuel market. The government also stated that the measure will help keep prices stable “during a period of continued seasonal demand and planned repairs on oil refineries”.
The government said in a statement that it has “brought in a restriction on exports of petrol from September 1 to December 31, 2024″.
Russia has done this before. Earlier this year, they stopped exporting petrol for six months but then allowed it again for a few months. Now, they are stopping exports again.
However, Russia will still export petrol to some countries, like Belarus, Kazakhstan, Kyrgyzstan, and Armenia, as part of their agreements.
The government said that the new restriction will not affect deliveries carried out under intergovernmental agreements, including those with the Eurasian Economic Union member countries.
Russia has a lot of oil and gas, but it wants to make sure its citizens have enough petrol at a low price. Last year, Russia stopped exporting diesel and petrol because prices were too high.
In 2023, Russia produced a lot of petrol – 43.9 million tonnes. The country needs the money it makes from selling oil and gas to fund its military actions in Ukraine.
Recently, Ukraine has attacked Russia’s fuel depots with drones, making it harder for Russia to get the fuel it needs. By stopping petrol exports, Russia can make sure it has enough fuel for its own use.
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Source: vanguardngr.com