Russia may temporarily lift ban on petrol exports imposed for six months

Russia's Energy Ministry has proposed to the government to temporarily lift the ban on petrol exports imposed since March 2024 following a series of attacks on Russian refineries.

Source: Kremlin-aligned Russian newspaper Kommersant

Details: It is noted that the Russian government should consider this initiative shortly. Russian Deputy Prime Minister Alexander Novak said that the lifting of restrictions is being considered only "for a certain period, to avoid a deficit later".

The official further added that the Russian petrol market is currently oversupplied. The Energy Ministry said it was monitoring the market "to take measures to prevent both shortages and overstocking".

Background: Effective 1 March, the Russian government banned petrol exports for six months and increased the share of diesel fuel sold on the stock exchange to 16%. These measures were implemented to combat rising fuel prices.

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