Russia extends gasoline export ban until end-2024: energy ministry

Russia has banned the export of gasoline from Sept. 1 until the end of December, the country's energy ministry said Aug. 14.

The decision has been taken to secure fuel market stability amid strong seasonal demand and planned refinery turnarounds, the ministry said in a statement.

The ban will not affect deliveries within intergovernmental agreements including with countries from the Eurasian Economic Union.

New export controls extend existing measures that were expected to last until October, marking the latest iteration of rolling restrictions first introduced in March. Officials had originally imposed a six-month ban on exports starting March 1, however the measure was extended into fall to conserve domestic supplies.

Gasoline exports temporarily resumed in May as inventories surged, though the ban was later reinstated in August.

The latest extension comes as gasoline prices have risen on the St. Petersburg exchange and refineries are commencing the next round of typical annual maintenance.

The Ryazan refinery is central Russia is currently undergoing works, while the Omsk refinery in Siberia is running at reduced capacity following a fire incident.

Works are imminent at a host of refineries, including Angarsk, plants from the Samara and Ufa refinery hubs as well as Perm and Ukhta refineries, according to industry sources.

Russia typically exports small volumes of gasoline, amounting to about 300,000-500,000 metric tons a month. Its larger diesel export market has so far evaded similar controls despite being subject to product shut-ins in 2023.

A respite in Ukrainian drone strikes on Russia's refining infrastructure has been expected to reduce pressure on domestic gasoline availability, as Kyiv has directed its focus more strongly to ground troops on the front line. In March, damage to Russia's refining infrastructure had added pressure to limit gasoline exports as Ukraine ramped up its drone attacks, which impacted refineries with a combined capacity of 1 million b/d by the second quarter.

All previous refinery damage inflicted by drone strikes has now been restored, alleviating a source of strain on Russian refineries, with no plants targeted since July 22.