Russia Bans Petrol Exports For 6 Months To Meet Domestic Demand
International News

Russia Bans Petrol Exports For 6 Months To Meet Domestic Demand

Oil Prices Spike On Geopolitical Tensions: Middle East Clashes, Ukraine War Stoke Supply Concerns

Russia stated on Tuesday that petrol exports will be banned for six months beginning from 1 March to compensate for increased consumer and agricultural demand and to allow for planned refinery maintenance.

RBC originally reported the ban, which was confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak.

Russia enforced a similar restriction from September to November last year to combat high domestic pricing and shortages. However, ban was exempted for four former Soviet states—Belarus, Kazakhstan, Armenia and Kyrgyzstan.

This time, the restriction will not include Eurasian Economic Union member nations, Mongolia, Uzbekistan and Georgia’s two Russian-backed separatist regions, South Ossetia and Abkhazia.

Leave a Reply

Discover more from BW Retail World

Subscribe now to keep reading and get access to the full archive.

Continue reading