Russia: Temporary Ban on Fuel Exports to Most Countries

The Russian government announced today, Thursday, that it has temporarily banned exports of gasoline and diesel to all countries except for four former Soviet states, with the decision taking effect immediately to stabilize the domestic market. They added that the ban does not apply to fuel supplies to members of the Eurasian Economic Union led by Moscow, which includes Belarus, Kazakhstan, Armenia, and Kyrgyzstan. The government stated in a statement: "The temporary restrictions will help saturate the fuel market, which will in turn lead to lower prices for consumers." The Ministry of Energy noted that this measure will prevent unauthorized exports of automotive fuel. Russia has experienced shortages of gasoline and diesel in recent months, with wholesale fuel prices increasing, despite a cap on retail prices in an attempt to curb them in line with the official inflation rate. The crisis has been particularly severe in some parts of the region known as the breadbasket of southern Russia, where fuel is essential for harvesting crops.