Russia Expected to Lift Fuel Export Ban Soon

Russian fuel producers have been told that the government will soon scrap any remaining restrictions on the exportation of diesel fuel and gasoline, industry sources said November 9. According to Reuters, an industry source said that the ban could be lifted as early as next week.

“They promised to lift the exports ban next week. In regards to this promise, we have formed an export schedule and a plan for refining,” said the source, who also spoke anonymously.

Russia’s energy ministry did not immediately respond to a request for comment from Reuters.

Russia, which is the world’s biggest seaborne exporter of diesel fuel, introduced a ban on fuel exports September 21 in an attempt to combat national shortages as well as high domestic prices. The government did weaken restrictions October 6, allowing diesel fuel to be exported via pipelines. However, the country decided to maintain its measures on gasoline exports while prohibiting the supply of gasoline through trucks and railways.

Diesel fuel is Russia’s biggest oil product export coming in at 35 million metric tons in 2022, almost 75% of which was transported via pipelines. Russia also exported 4.8 million tons of gasoline last year.

Deputy Prime Minister Alexander Novak said November 5 that the country will continue its voluntary supply cut of 300,000 barrels per day of crude oil and petroleum products until the end of December 2023.

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• Source: https://www.supplychainbrain.com/articles/38478-russia-expected-to-lift-fuel-export-ban-soon