Russia bans gasoline exports to Nigeria, others

 

Russia on Tuesday ordered a six-month ban on gasoline exports to Nigeria and other countries of the world from March 1 to keep prices stable amid rising demand from consumers and farmers and to allow for maintenance of refineries in the world's second largest oil exporter.

The ban, first reported by Russia's RBC, was confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak, President Vladimir Putin's point man for Russia's vast energy sector.

Russia in 2023 produced 43.9 million tons of gasoline and exported about 5.76 million tons, or around 13 per cent of its production. The biggest importers of Russian gasoline are mainly African counties, including Nigeria, Libya, Tunisia and also United Arab Emirates.

Russia last month reduced gasoline exports to non-Commonwealth of Independent States countries to compensate for unplanned repairs at refineries amid fires and drone attacks on its energy infrastructure.

RBC, citing an unidentified source, said Prime Minister Mikhail Mishustin had approved the ban after Novak proposed it in a letter dated Feb. 21.

"In order to offset excessive demand for petroleum products, it is necessary to take measures to help stabilize prices in the domestic market," Novak was quoted as saying in his proposal by RBC.

Domestic gasoline prices are sensitive for motorists and farmers in the world's biggest wheat exporter ahead of a March 15-17 presidential election, while some Russian refineries have been hit by Ukrainian drone attacks in recent months.

Russia and Ukraine have targeted each other's energy infrastructure in a bid to disrupt supply lines and logistics and demoralise their opponents, as they seek the edge in a nearly two-year-old conflict that shows no sign of ending.

Exports of oil, oil products and gas are by far Russia's biggest export, a major source of foreign currency revenue for Russia's $1.9 trillion economy, and ensure that Moscow has a place at the top table of global energy politics.