Russia extends temporary gasoline-export ban through February

A gas storage facility, operated by Gazprom PJSC, in Kasimov, Russia. (Source: Bloomberg)

Russia extended a temporary ban on gasoline exports through the end of February to maintain stability in its domestic fuel market.

Shipments of gasoline outside the country will be restricted through Feb. 28, and will apply to all exporters, including producers, according to a government decree published on Saturday.

The Russian government also extended the ban through the same date to export diesel, marine fuel and other gasoils for non-producers, according to the statement.

Russia imposed the restrictions at the end of August as Ukraine intensified drone strikes on oil refineries and ports from the Black Sea to the Baltic coast, exacerbating a crisis in the domestic fuel market and leading to a spike in prices and temporary shortages in some regions. While the situation has stabilized since then, prices remain relatively high and Ukraine’s attacks continue.

The earlier imposed deadline for the ban was due to expire this month.