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Russia may ban gasoline exports due to rising prices on the domestic market

by alex

Russia may ban gasoline exports due to rising prices on the domestic market

The Russian government is considering a complete ban on gasoline exports amid soaring fuel prices.

The Foreign Intelligence Service (SVR) of Ukraine reported this on its website.

Fuel prices in Russia are rising rapidly

In particular, the expansion of current restrictions from traders and oil depots to direct producers, including key state players such as Rosneft, is being discussed.

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At the same time, the Kremlin is considering reducing compensation to oil companies under the damper mechanism – a tool for containing the growth of domestic fuel prices.

— Exchange prices for gasoline have risen rapidly… Since the beginning of the year, the growth has been more than 25%, which is already having a noticeable impact on consumers' wallets, — they said at SZR.

Despite the recent decline in global oil prices, oil product exports remain one of the few stable sources of foreign exchange earnings for the Russian economy.

The SZR points out that a complete ban on gasoline exports could undermine industry revenues and would not bring quick relief to the domestic market.

The intelligence service noted that this decision could have far-reaching consequences both for the Russian energy sector and for the country's population, which is already experiencing pressure from rising fuel prices.

Let us recall that the rise in fuel prices in Russia began against the backdrop of Canadian sanctions. More than 200 vessels of the shadow fleet of Russia were hit by them.

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