Published by Global Banking & Finance Review®
Posted on March 26, 2026
1 min readLast updated: March 26, 2026
Add as preferred source on GoogleRussian Deputy PM Alexander Novak warned on March 26, 2026 that Russia may reintroduce a gasoline export ban if needed and will meet oil leaders on March 27 to discuss, amid past fuel shortages and strong Urals pricing relative to Brent.
MOSCOW, March 26 (Reuters) - Russian Deputy Prime Minister Alexander Novak said on Thursday that the country may re-introduce a gasoline export ban if necessary and that he will hold a meeting with oil companies on Friday to discuss the issue.
He also said that Russia's flagship Urals oil and oil products have been trading on a par with, or at a premium to, Brent crude.
Several regions in Russia and parts of Ukraine that it controls were reporting gasoline shortages last year after Ukraine stepped up attacks on Russian oil refineries and amid a seasonal surge in fuel demand.
Russia repeatedly introduced restrictions on gasoline and diesel exports in order to dampen the rising fuel prices and tackle shortages.
It exported almost 5 million metric tons, or around 117,120 barrels per day, of gasoline last year, according to industry sources.
(Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; Editing by Mark Trevelyan and Joe Bavier)
Russia may reintroduce a gasoline export ban to manage potential fuel shortages and stabilize domestic fuel prices.
Deputy Prime Minister Alexander Novak will meet with oil companies to discuss the possible reintroduction of the ban.
Shortages were caused by Ukrainian attacks on Russian refineries and a seasonal rise in fuel demand.
Russia exported almost 5 million metric tons of gasoline last year, around 117,120 barrels per day.
Russia's Urals oil and oil products are trading on par with or at a premium to Brent crude.
Explore more articles in the Finance category
