Russia Imposes Full Embargo on Gasoline Exports

RUSSIA – Russia on Tuesday introduced a full embargo on gasoline exports to all petroleum product manufacturers that will be active until end of August.

This comes amid an all-high stock price.

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.”