March 3, 2024
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OIL & GAS

Russia lifts Temporary Ban on Diesel Exports

Russia has on Wednesday the 22nd of November lifted its two-month temporary restrictions on diesel and gasoline exports.

The country suspended the export of the products in September in a move to boost supply within Russia and also to stabilize rising fuel prices, which have been a major challenge to motorists and businesses in the country.

The aim of the restrictions was achieved as the prices had gone down and the domestic reserve had grown 14 percent to 3.2 million tonnes during the two months when exports were banned.

The lifting of the ban follows a call by Russian top oil companies for the government to lift the restrictions.

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