Russia Draws Down Gasoline Reserves, Bans Exports Amid Widespread Shortages
Russia is drawing down 1.7 million tons of gasoline reserves and has banned gasoline and jet fuel exports due to widespread shortages. President Putin acknowledged persistent queues, while Ukrainian drone strikes have cut gasoline output by 25%. A potential diesel export ban, though currently opposed by the Energy Ministry, would impact global markets.
Russia is drawing down gasoline reserves and has banned gasoline and jet fuel exports, with a diesel export ban also under consideration. This follows President Vladimir Putin's admission on June 28 that fuel shortages and queues persist at filling stations nationwide.
Putin stated Russia is using 1.7 million tons of gasoline reserves and expects July production to exceed June's. Deputy Prime Minister Alexander Novak urged regional heads to use fuel efficiently and monitor prices. Sales restrictions are documented across at least 15 regions, including central Russia, Siberia, the Far East, and occupied Crimea, with limits ranging from set volumes per vehicle to bans on filling portable containers.
Ukrainian drone strikes have reduced Russia's gasoline output by about 25% from a year ago. A potential diesel export ban would significantly impact the global market, as Russia supplied approximately 11% of the world's diesel last year. Novak confirmed on June 29 that the Energy Ministry still recommends against a diesel ban. Russia is also considering importing fuel, a rare move for a major oil exporter, and is in talks with Kazakhstan for 50,000 tons of AI-92 gasoline.