Russia to Halt Petrol Exports Starting April 1

Russia has announced a ban on gasoline exports starting April 1, 2026, as part of a strategy to stabilize domestic fuel prices and ensure supply security within the country.

The decision was confirmed on Friday, March 27, by Deputy Prime Minister Alexander Novak following a high-level government meeting.

The meeting included representatives from the Ministry of Energy, the Federal Antimonopoly Service, the St. Petersburg Exchange, and major industry stakeholders.

According to state news agency TASS, the restriction is expected to remain in effect until July 31, 2026.

Drivers Behind the Decision
Global Market Volatility: Novak pointed to the ongoing crisis in the Middle East, specifically the conflict involving the U.S., Israel, and Iran, which has caused significant fluctuations in global oil and petroleum prices.

Strait of Hormuz Instability: Disruptions in the Strait of Hormuz since early March have pushed global oil prices and shipping costs higher, making exports more lucrative but threatening domestic supply.

Internal Price Control: The move aligns with a directive from President Vladimir Putin to prevent domestic fuel prices from rising above forecasted levels despite strong international demand for Russian energy.

Domestic Supply Outlook
The Russian Ministry of Energy reported that oil refining rates remain stable and consistent with levels from March 2025.

Industry leaders confirmed that the country currently holds sufficient reserves of both gasoline and diesel to meet internal demand, even as refineries operate at high capacity.

Analysts suggest that while the ban will protect Russian consumers from the "oil shock" triggered by the West Asia conflict, it could further tighten global supply, potentially driving international fuel prices even higher.
Source: Anadolu Agency / TASS