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Russia will temporarily lift restrictions on gasoline exports

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Russia will allow refineries to continue exporting gasoline for another month because the domestic market remains well supplied, reports Bloomberg.

The government has extended permits granted to refineries until July 31, according to a decree published on Saturday. The previous decree was to expire on June 30.

“The early adoption of export regulations has proven its effectiveness and allowed the saturation of the domestic market. Currently, domestic fuel stocks are sufficient and domestic demand is fully met,” according to a statement by the Minister of Energy, Sergei Tsivilev, quoted by Agerpres.

From March 1, the authorities in Moscow banned the export of gasoline, for a period of six months, in order to ensure the supply of the domestic market and prevent the increase in prices. Also, the decision is related to the Ukrainian attacks on Russian refineries, which led to a decrease in gasoline production, before the maintenance works in the spring.

This embargo does not apply to countries in the Eurasian Economic Union, which includes Kazakhstan, as well as other countries, such as Mongolia, with which Russia has an intergovernmental agreement on fuel supplies.

In February, before the ban, Russia was exporting about 141,000 barrels of gasoline a day, or nearly 14 percent of its total fuel production, according to data seen by Bloomberg.

 

 

 

 

 

 

 

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