Putin has ordered that fuel oil prices be regulated for the heating season while Russia maintains its ban on the export of gasoline and diesel.
Russia’s President Vladimir Putin has ordered the regulation of fuel oil prices for the heating season in Russia while Moscow’s ban on exports of gasoline and diesel will remain in place “for as long as necessary,” the Kremlin said on Thursday. Fuel oil, heavily used in Russia’s Arctic regions during the severe winters, will see prices regulated for the 2023/2024 heating season with funds provided by the government, according to a Kremlin document quoted by Reuters.
Two weeks ago, Russia surprised the markets by announcing a temporary ban on exports of gasoline and diesel to stabilize domestic fuel prices amid soaring crude prices and a weak Russian ruble. Diesel and gasoline exports are now temporarily banned to all countries except for four former Soviet states—Belarus, Armenia, Kazakhstan, and Kyrgyzstan.
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