MOSCOW, March 26 (Reuters) - Russian Deputy Prime Minister Alexander Novak said on Thursday that the country may re-introduce a gasoline export ban if necessary and that he will hold a meeting with
Russia Considers Gasoline Export Ban to Address Oil and Fuel Shortages
Potential Reintroduction of Gasoline Export Ban
Government Response to Fuel Shortages
MOSCOW, March 26 (Reuters) - Russian Deputy Prime Minister Alexander Novak said on Thursday that the country may re-introduce a gasoline export ban if necessary and that he will hold a meeting with oil companies on Friday to discuss the issue.
Current Oil Market Conditions
He also said that Russia's flagship Urals oil and oil products have been trading on a par with, or at a premium to, Brent crude.
Background on Fuel Shortages
Impact of Ukrainian Attacks and Seasonal Demand
Several regions in Russia and parts of Ukraine that it controls were reporting gasoline shortages last year after Ukraine stepped up attacks on Russian oil refineries and amid a seasonal surge in fuel demand.
Previous Export Restrictions
Russia repeatedly introduced restrictions on gasoline and diesel exports in order to dampen the rising fuel prices and tackle shortages.
Export Volumes in 2023
It exported almost 5 million metric tons, or around 117,120 barrels per day, of gasoline last year, according to industry sources.
(Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; Editing by Mark Trevelyan and Joe Bavier)
