Russian energy minister: lifting of gasoline exports ban possible, Ifx says

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MOSCOW (Reuters) – Russian Energy Minister Sergei Tsivilev said on Wednesday that the ministry believed it was possible to lift restrictions on gasoline exports as fuel prices have been stable, Interfax news agency reported.

The RIA news agency said the ministry sent its proposals on gasoline exports restrictions to the government.

“We will lift restrictions on exports now, because everything is stable with prices, the situation on the market is stable, so restrictions can be lifted – they were introduced to stabilise prices on the domestic market,” RIA quoted the minister as saying.

In August Russia extended gasoline export restrictions until the end of the year.

The top gasoline producers in Russia in 2023 were Gazprom Neft’s Omsk refinery, Lukoil’s NORSI oil refinery in Nizhny Novgorod and Rosneft’s <ROSN.MM > Ryazan refinery.

Russia in 2023 produced 43.9 million tons of gasoline and exported about 5.76 million tons, or around 13% of its production.

The biggest importers of Russian gasoline are mainly African countries, including Nigeria, Libya, Tunisia and the United Arab Emirates.