Moscow, March 28: Amid the ongoing crisis in the Middle East, Russia will impose a ban on gasoline exports by domestic producers starting April 1. This announcement was made by Deputy Prime Minister Alexander Novak on Friday. The ban will remain in effect until July 31.
According to an official statement from the Russian government, Deputy PM Novak held a meeting with the Energy Minister, the Federal Antimonopoly Service, representatives from the St. Petersburg Exchange, and industry companies. This decision follows a review and discussion of the current situation.
As reported by the state news agency TASS, two sources indicated that the aim of this measure is to stabilize domestic fuel prices. During the meeting, Novak emphasized the current turmoil in the global oil and petroleum product markets. Nevertheless, the high demand for Russian energy resources in foreign markets remains a positive factor.
The Energy Minister stated that oil refining volumes have remained at levels consistent with March 2025, ensuring a stable supply of petroleum products. Industrial companies have confirmed substantial reserves of gasoline and diesel to meet domestic demand, alongside increased refinery capacity utilization.
It is noteworthy that approximately 20 million barrels of oil typically transit through the Strait of Hormuz. However, shipping in this region has faced significant challenges due to the conflict between Iran and Israel, as well as the United States. Consequently, shipping costs in the Strait of Hormuz have risen, impacting global markets. Oil prices have surged worldwide.
In response, the UN has established a new task force led by top logistics officer Jorge Moreira da Silva to assist in safely navigating vessels through the Strait of Hormuz.
On Friday, Iran’s UN envoy, Ali Bahreini, stated that Tehran has accepted the UN’s appeal to expedite safe routes for humanitarian shipments. UN spokesperson Stéphane Dujarric noted that if this initiative succeeds, it could help build trust in diplomatic approaches to conflicts among nations and represent a significant step toward a broader political resolution.
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