Russia Extends Fuel Export Bans to Stabilize Market

The Russian government has extended its export bans on diesel and gasoline until January 2027 to support its domestic fuel market. This decision follows initial bans introduced in July 2023 due to fuel shortages and price hikes caused by Ukrainian drone attacks on oil refineries.

The Russian government announced an extension of its export bans on diesel and gasoline exports until January 31, 2027, in a bid to stabilize the domestic fuel market.

The restrictions were first introduced in July 2023, following significant disruptions caused by Ukrainian drone attacks targeting critical oil refineries. These attacks led to widespread fuel shortages and price increases.

In addition to diesel, Moscow had already restricted exports of gasoline and jet fuel, reflecting ongoing efforts to control domestic fuel prices.