Russia is keeping its fuel at home for a while longer. Deputy Prime Minister Alexander Novak announced on July 26 that the country’s ban on gasoline exports will remain in place through December 31, 2026, covering all producers and non-producers alike.
The restrictions, originally set to expire on July 31, now get an additional five months of life. Diesel export bans will be eased more gradually, with restrictions lifted progressively as the domestic market recovers.
Why Russia is hoarding its fuel
The root cause here isn’t mysterious. Ukrainian drone strikes on Russian refineries have created persistent disruptions to the country’s fuel processing and distribution infrastructure, knocking enough refining capacity offline that Moscow decided protecting domestic supply takes priority over export revenue.
Novak made the announcement from Omsk, a city in southwestern Siberia that happens to host one of Russia’s largest oil refineries.
