Connect with us

WORLD

Russia to ban gasoline exports for 6 months starting March 1

Published

3 months ago

on

Russia to introduce a six-month ban on gasoline exports starting from March 1, a spokesperson for Russian Deputy Prime Minister Alexander Novak said on Tuesday.

The move aimed to offset the growth in demand in spring and summer, the spokesperson said.

He said that another possible measure is to increase the diesel sales rate on the stock exchange to 16 per cent.

The restriction would not apply to the countries in the Eurasian Economic Union, he added.

Previously, Russia introduced a ban on gasoline exports from Sept. 21 to Nov. 17 in 2023, to stabilise the price situation in the domestic motor fuel market.

The ban was lifted after the domestic fuel market reached saturation and a supply surplus was established.

Related Topics:
Ummul Idris

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

Comments
NIGERIA DECIDES

NIGERIA DECIDES

Shell Digital Plan RESPONSIVE600x750
Shell Digital Plan RESPONSIVE600x750
GTB
JoinOurWhatsAppChannel