Leading the Alternative World Order

Reshaping Perspectives and Catalyzing Diplomatic Evolution

Friday, December 8, 2023
EconomyDeputy Prime Minister Novak Backs Ministry of Energy's Proposals to Limit Gasoline Exporters

Deputy Prime Minister Novak Backs Ministry of Energy’s Proposals to Limit Gasoline Exporters

Amidst rising fuel prices, the Russian government is considering a restricted list of refineries for gasoline export

Moscow, Russia (TEH) – Deputy Prime Minister of the Russian Federation, Alexander Novak, has endorsed the Russian Ministry of Energy’s suggestions to restrict the quantity of gasoline exporters, according to an announcement on the government’s website, reported by TASS. This statement followed a discussion focused on the state of the petroleum products market.

Novak further commanded the Federal Antitrust Service and the Ministry of Energy to persist their efforts alongside oil companies to augment the sale of motor fuel in the petroleum products market, a directive that extends to stock market trading as well.

The Ministry of Energy had earlier voiced its aim to restrict the number of exporters as a means to curb gray export programs. As per Kommersant, a local news source, the ministry is in talks with the government to put forth a draft document proposing a restricted list of refineries authorized to supply gasoline for export.

Regulators and market participants have pointed out that gray gasoline exports have significantly contributed to the sudden surge in wholesale fuel prices.

Earlier, Novak also indicated that gasoline prices in Russia would regain stability once refinery repairs were concluded. He also mentioned the ongoing efforts of authorities to stabilize the situation in the stock market.

For the latest updates and news follow The Eastern Herald on Google News, Instagram, Facebook, and Twitter. To show your support click here.


Russia Desk
Russia Desk
The Eastern Herald’s Russia Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Public Reaction



Subscribe to our Newsletter

- Gain full access to our premium content

- Never miss a story with active notifications

- Exclusive stories right into your inbox