Russia’s fuel export ban will not be lifted soon – TASS cites minister

Russian Energy Minister Nikolai Shulginov said on Thursday that the ban on fuel exports will not be lifted soon and will remain in place until the domestic market stabilises, TASS news agency reported.

Shulginov also said that some additional measures could be taken in order to tackle the fuel shortages, according to the news agency.

“I will say one thing – expectations of a quick lifting of the fuel export ban are futile – the measure will last as long as necessary to stabilise fuel supply and prices,” he was quoted as saying by TASS.

The government last week introduced a temporary ban on exports of gasoline and diesel to all countries beyond four ex-Soviet states to try to stem an increase in domestic fuel prices and tackle fuel shortages.

Analysts have predicted the restrictions will last for a few weeks during Russia’s harvest season, when fuel demand increases.

President Vladimir Putin on Wednesday ordered his government to make sure retail fuel prices stabilise and urged additional measures to balance the domestic market following the introduction of the ban on gasoline and diesel exports.