Moscow (HRNW)- Russia has announced a ban on petrol exports from April 1 to July 31, aiming to maintain domestic supply and control fuel prices. According to media reports, Deputy Prime Minister Alexander Novak has directed the Energy Ministry to draft the export ban amid rising volatility in global oil markets linked to Middle East tensions.
Novak stated that the ongoing conflict between Israel and Iran has caused fluctuations in global petroleum prices, prompting the need for precautionary measures. Russia currently exports between 120,000 to 170,000 barrels of petrol per day, and the restriction is expected to impact major buyers including China, Turkey, Brazil, African nations, and Singapore, while India is likely to see minimal effects due to its focus on crude oil imports.
Officials assured that Russia has sufficient reserves of petrol and diesel, with refineries operating at full capacity to meet domestic demand. This is not the first time Russia has imposed such a restriction to stabilize its internal fuel market.
Support independent journalism and human rights initiatives:
Donate here: https://www.hrnww.com/donate-us/
