MOSCOW (Reuters) -Russian Federal Anti-Monopoly Service (FAS) has proposed a complete gasoline exports ban to tackle high fuel prices, three industry sources told Reuters on Thursday. Currently, there
Russia Considers Total Ban on Gasoline Exports Amid Price Surge
MOSCOW (Reuters) -Russian Federal Anti-Monopoly Service (FAS) has proposed a complete gasoline exports ban to tackle high fuel prices, three industry sources told Reuters on Thursday.
Currently, there are restrictions only for a small portion of gasoline exports by re-sellers, while oil companies still have licenses to sell the fuel abroad. The restrictions are in place until August 31.
FAS declined to comment. The decision on possible exports ban is taken by the government, while the regulator is able to put forward its proposals.
The proposals to tighten the restrictions came as Russia's domestic gasoline wholesale price on a commodity exchange jumped to a two-year high earlier this month to around 65,000 roubles ($828.55) per metric ton.
Russian government has several times applied temporary gasoline exports bans for the past two years to fight off the fuel shortages and high prices.
The current restrictions exclude supplies to the Moscow-led Eurasian Economic Union, a group of five former Soviet states, and to countries such as Mongolia with which Russia has intergovernmental agreements on fuel supplies.
The biggest importers of Russian gasoline include Nigeria, Libya, Tunisia and the United Arab Emirates.
($1 = 78.4500 roubles)
(Reporting by Vladimir Soldatkin; Editing by Louise Heavens)
