The Russian government announced on Wednesday that it is reintroducing a ban on petrol exports for another six months in an effort to stabilize the domestic fuel market amid significant price hikes
In an official statement, the government confirmed that the export restriction will be in place from September 1 to December 31, 2024. This measure is aimed at maintaining price stability during a period of ongoing seasonal demand and scheduled maintenance at oil refineries.
Russia had previously implemented a similar six-month ban on petrol exports starting in March 2024 but temporarily lifted it between May and July, citing an oversupply in the domestic market. The new restriction will not apply to deliveries under intergovernmental agreements, including those with member countries of the Eurasian Economic Union—Belarus, Kazakhstan, Kyrgyzstan, and Armenia.
Despite being one of the world’s largest energy producers, Russia has faced challenges in managing domestic fuel prices. A similar export ban was imposed last year as the weakening ruble and sanctions led to a surge in pump prices, straining the purchasing power of Russian citizens.
