Russian govt at end of June to assess advisability of extending permit to export gasoline - deputy PM

ST. PETERSBURG. June 7 (Interfax) - The Russian government at the end of June plans to assess the advisability of extending the permit to export gasoline, Deputy Prime Minister Alexander Novak told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF) 2024.

"We will proceed from an assessment of the current situation. We should understand this by the end of the month, and act based on what is most advisable," Novak said.

Novak emphasized that the country currently has no problems with production.

"Even with the opening of exports on the exchange, there are sufficient volumes. Prices have even fallen on the exchange even more than they were before the opening of exports. Volumes are sufficient for consumption on the domestic market and for export," he said.

Novak noted that the share of "gray" exports of fuel is currently small, saying that his instructions regarding preventing these deliveries of petroleum products concern individual shipments exported as "gray" via the Eurasian Economic Union (EAEU) countries.

"There is no systemic problem, because we have already taken all the decisions, both administrative and regulatory, to prevent this ['gray' exports]. [...] Prohibitory duties are in effect, and the customs services are operating efficiently," Novak said.

As reported, the government is suspending the temporary ban on gasoline exports for fuel producers until June 30, 2024. The corresponding decree has been signed. Meantime, restrictions on gasoline exports remain in place from July 1 to August 31.