Russia's Energy Strides: Lifting the Gasoline Export Ban

Russian Energy Minister Sergei Tsivilev announced potential plans to lift gasoline export restrictions due to stable fuel prices. The ministry has proposed this to the government, citing a stable domestic market. Russia extended these restrictions in August, primarily targeting stabilization of domestic fuel prices.

The Russian Energy Ministry, under Sergei Tsivilev, has hinted at potential relief in gasoline exports. The ministry reported stable fuel prices as the core reason for proposing the lifting of restrictions, as noted by Interfax.

According to RIA, proposals regarding these restrictions have been forwarded to the government. Tsivilev emphasized that the current market stability justified the removal of export limitations, initially set to stabilize domestic prices.

Russia extended export limitations in August, and its main gasoline producers include Gazprom Neft, Lukoil, and Rosneft. In 2023, Russia produced 43.9 million tons of gasoline, exporting 13% primarily to African nations like Nigeria and Libya.

(With inputs from agencies.)