OREANDA-NEWS  The ban on gasoline exports from Russia, which is in effect until February 28 and does not apply to producers of petroleum products, is extended until August 31. This is stated in a message on the government's website.

Thus, the authorities did not tighten restrictions on fuel exports, effectively allowing its main exporters to continue. The Cabinet of Ministers notes that the decision was made to maintain a stable situation in the domestic fuel market, maintain the economy of refining and combat the gray export of gasoline.

Prior to this, the Federal Antimonopoly Service (FAS) proposed extending the ban to producers in order to stabilize prices during the sowing season and prevent possible shortages. However, the Ministry of Energy indicated that the domestic market is fully supplied with fuel, and exports will be supported by oil companies. As a result, the government sided with the ministry.

One of the reasons for such a decision could be the fall in world oil prices, accompanied by an increase in discounts for Russian oil due to recent US sanctions that have hit a significant number of shadow fleet vessels. Exporting petroleum products is more profitable for oil companies, and also requires fewer tankers.

Thus, the refusal to tighten restrictions will not only help the exporter, but will also prevent a drop in oil and gas revenues. A negative consequence may be an increase in prices on the wholesale market.