Russia to ban gasoline exports by local producers from April 1

ISTANBUL

Russia will ban gasoline exports by domestic producers starting April 1 amid the Middle East crisis, Deputy Prime Minister Alexander Novak said Friday, according to a government statement.

Novak held a meeting with the representatives of the Energy Ministry, the Federal Antimonopoly Service, the St. Petersburg Exchange, and industry companies, the statement said.

The measure was adopted after the meeting and will remain in effect until July 31, aiming to stabilize domestic fuel prices, state news agency Tass reported, citing two sources familiar with the matter.

During the meeting, Novak underlined that the high demand for Russian energy resources in foreign markets remains a positive factor, despite the “turbulence in the global oil and petroleum product market,” the statement added.

The Energy Ministry said that oil refining volumes remain at March 2025 levels, ensuring stable supplies of petroleum products, while industry companies confirmed sufficient gasoline and diesel reserves, as well as high refinery capacity utilization, to meet domestic demand, it added.

The disruption of the Strait of Hormuz since early March — the waterway through which 20 million barrels of oil normally pass — has driven up shipping costs and pushed global oil prices higher.

For nearly a month, the US and Israel have carried out an air offensive against Iran, killing more than 1,300 people, including then-Supreme Leader Ali Khamenei.

Iran has retaliated with drone and missile strikes targeting Israel, as well as Jordan, Iraq, and Gulf countries hosting US military assets, causing casualties and damage to infrastructure while disrupting global markets and aviation.