Russia’s Gas Embargo excludes Mongolia
Russia to Impose Six-Month Ban on Gasoline Exports
Russia is set to implement a six-month ban on gasoline exports starting March 1 in order to meet the increasing domestic demand for fuel. This decision comes as a response to the rising need for gasoline due to summer vacation travel, spring fieldwork on farms, and planned repairs at oil refineries.
Deputy Prime Minister Alexander Novak reportedly informed Russian Prime Minister Mikhail Mishustin in a letter last month about the expected growth in fuel demand. To address the issue of surging prices, Russia had previously imposed “temporary restrictions” on gasoline and diesel exports between September and November. During this period, countries like Belarus, Armenia, Kazakhstan, and Kyrgyzstan were exempt from the export ban as members of the Eurasian Economic Union led by Moscow.
The latest ban on gasoline exports will also exempt countries like Uzbekistan, Mongolia, and Georgia’s separatist regions of Abkhazia and South Ossetia, which Russia recognizes as independent states. However, the Mongolian Minister of Mining and Heavy Industry, Ganbaatar.J, stated that the decision to impose a ban on Russian exports has not been finalized. As of now, Mongolia is not included in the ban, and the country’s reserves of diesel and AI-92 fuel are reported to be normal and sufficient.
This move by Russia is aimed at ensuring that the country’s domestic fuel needs are met, especially during periods of increased demand. It remains to be seen how this ban will impact the global gasoline market and the countries dependent on Russian fuel exports.
