MOSCOW: Russia will impose a temporary ban on gasoline exports starting April 1 to stabilise domestic fuel prices and ensure adequate supplies at home, the government said following a high-level meeting on the petroleum products market.
Deputy Prime Minister Alexander Novak instructed the Ministry of Energy to prepare a draft decree prohibiting gasoline exports, according to a government statement cited by the state news agency TASS.
“Alexander Novak instructed the Ministry of Energy… to prepare the draft decree prohibiting gasoline exports from April 1, 2026,” the statement said.
The measure is expected to remain in place until July 31, according to TASS, and is aimed at curbing rising domestic prices while prioritising fuel supplies for the local market.
Russian authorities said the decision followed a review of the domestic petroleum products market, amid concerns about price stability and regional shortages.
The government emphasised the objective set by President Vladimir Putin to prevent domestic fuel prices from exceeding forecast levels.
“Particular attention was paid to the objective set by the Russian President of preventing domestic fuel prices from rising above forecasts,” the government statement said.
The Ministry of Energy reported that oil refining rates remain broadly in line with March 2025 levels, ensuring stable output.
Impact on global markets
The move comes at a time of heightened volatility in global energy markets due to the conflict in the Middle East.
According to Reuters, Russian officials said the crisis has led to significant fluctuations in global oil and petroleum product prices, although demand for Russian energy exports remains strong.
Industry sources estimate Russia’s gasoline exports at around 120,000 to 170,000 barrels per day, with total shipments last year reaching nearly 5 million metric tonnes, or about 117,000 barrels per day.
The export ban is expected to affect key importers of Russian fuel, including China, Turkiye, Brazil, several African countries and Singapore.
Oil markets have been on edge following the escalation of hostilities involving the United States, Israel and Iran.
Prices have surged amid fears of prolonged disruption, particularly around the Strait of Hormuz, a key global oil transit route.
“Despite talks of de-escalation, oil is trading on war longevity, not just headlines,” said Priyanka Sachdeva, an analyst at Phillip Nova.
“Any direct damage to oil infrastructure or prolonged conflict could force markets to rapidly reprice higher.”
