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Russia to Lift Gasoline Export Ban Earlier Than Planned
Russia’s government plans to lift the gasoline export ban earlier than current plans at the end of the year, Russian Deputy Prime Minister Alexander Novak told reporters on Friday.
The ban will be lifted, documents are now being drafted and will be ready within days, he said.
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“It is difficult to say whether the export restrictions will be lifted on December 1 or [from another date],” Novak said, as quoted by Russian news agency TASS.
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In the middle of August, the Russian government said that Moscow is extending its ban on gasoline exports from October to the end of December 2024, as it seeks to keep domestic supply stable amid seasonal demand and scheduled repairs at refineries.
Earlier this month, Russian Energy Minister Sergey Tsivilyov said that Russia’s energy ministry believes it could be possible to lift the gasoline export ban, considering that domestic fuel prices are stable.
Russia could lift the export restrictions now because fuel prices and the fuel market in Russia are stable, the minister said last week.
“Everything is stable with prices, the situation on the market is stable, so restrictions can be lifted – they were introduced in the first place to stabilize prices on the domestic market,” Tsivilyov was quoted as saying.
At the end of September, Alexander Novak said that Russia could lift its ban on gasoline exports if a fuel surplus emerges on the domestic market.
“Exports are always permitted if there is a surplus of the product on the domestic market. For example, we do not have a ban on exporting diesel fuel, because there is a surplus, and it is sold on both the domestic market and for export,” Novak said in September.
Currently, the government is not concerned about the domestic supply situation as there are sufficient petroleum products on the exchange and stable prices at gas stations, Russia’s top oil official said at the time.
By Charles Kennedy for Oilprice.com
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