RUSSIA – Russia on Tuesday introduced a full embargo on gasoline exports to all petroleum product manufacturers that will be active until end of August.
Under the ban, oil companies are advised to direct more fuel to domestic market and boost stock market.
A partial ban was previously introduced targeting non-producers like traders, small refineries with under 1 million tons annual output and oil depots.
According to the Russian government, the total ban aims at securing a “stable situation on the domestic fuel market during the season of high demand and agricultural field work.”
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