The Ministry of Energy called the ban on fuel exports indefinite

The restriction on fuel exports is indefinite, but depends on market saturation and the results of applying this instrument. This was announced on Thursday, September 21, by First Deputy Head of the Russian Ministry of Energy Pavel Sorokin. His statement was published on the ministry’s Telegram channel.

“This measure should have an effect very quickly, because leaching will stop, because a fairly significant volume was bought by unscrupulous market participants on the stock exchange or at oil depots and then exported. Now there is no such possibility. This measure just covers everything,” he said.

This decision, he said, will allow saturating the stock exchange and the domestic market and closing the shortage, including among farmers.

“Farmers are one of the largest consumers of diesel fuel, and this measure will fully satisfy the needs of our agricultural producers,” he said.

The ministry expects that the volumes now sent to the market will completely cover all needs and even create a surplus of fuel on the market.



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