Russia Plans Petrol Export Ban

Russia is preparing to impose a temporary ban on petrol exports in a move aimed at stabilising its domestic fuel market amid global volatility. Deputy Prime Minister Alexander Novak has instructed the Energy Ministry to draft a proposal to halt gasoline exports starting from 1 April, according to a government statement reported by Reuters.

State news agency TASS indicated that the proposed restriction could remain in force until 31 July, effectively covering a four-month period that typically coincides with rising seasonal demand within Russia. The measure is part of a broader strategy to ensure adequate domestic supply and prevent price spikes.

Speaking on the issue, Novak acknowledged that ongoing tensions in the Middle East have contributed to fluctuations in global oil prices. Despite this uncertainty, he noted that international demand for Russian energy products remains relatively resilient. Nevertheless, the government appears determined to prioritise internal market stability over export revenues during this period.

Officials emphasised that Russia’s crude oil processing volumes have remained broadly consistent with last year’s levels. This steady throughput has helped maintain a reliable supply of refined petroleum products. However, policymakers remain cautious due to recent disruptions. In 2024, several Russian refineries were damaged by Ukrainian drone strikes, which, combined with increased seasonal consumption, led to fuel shortages in certain regions.

In response to those pressures, Moscow has repeatedly imposed restrictions on both petrol and diesel exports over the past year. These interventions were designed to curb domestic price increases and ensure sufficient availability for consumers and industries alike.

Industry data suggests that Russia exported approximately 5 million metric tonnes of petrol in 2024, equivalent to around 117,000 barrels per day. A suspension of exports at this scale could have noticeable repercussions on international markets, particularly in regions that rely on Russian fuel supplies.

Analysts warn that while the export ban may succeed in stabilising domestic prices, it could tighten global supply and contribute to upward pressure on fuel prices elsewhere. The decision underscores the delicate balance major energy producers must maintain between domestic priorities and international market obligations.

Below is a summary of key figures related to Russia’s petrol export policy:

As geopolitical tensions persist and energy markets remain sensitive, Russia’s latest move highlights how quickly supply dynamics can shift, with implications that extend far beyond its borders.