Ban on Russian gasoline exports to be lifted early, govt drafting paperwork - Novak

MOSCOW. Nov 22 (Interfax) - Russia intends to lift its ban on gasoline exports early, Deputy Prime Minister Alexander Novak told reporters.

"Yes, it will [the ban on gasoline exports will be lifted early]. The paperwork is being drafted," he said.

Asked exactly when the ban might be lifted, he said: "It doesn't matter whether it's December 1 or not [the measure will be canceled], the documents are being drafted now."

Novak has already asked the Russian Energy Ministry to explore the possibility of lifting of the ban on gasoline exports early. Energy Minister Sergei Tsivilev said later that the Energy Ministry had sent proposals to the government to end the embargo. "We will lift the restrictions on exports now because prices are stable. The market situation is stable, so we can lift the restrictions. They were imposed to stabilize prices on the domestic market," he said.

Sources have told Interfax that the ministry had proposed lifting the ban on exports of all types of gasoline starting next month, but only for producers. One source said the ban could be extended for two more winter months for all other exporters. The Energy Ministry is not commenting on this information.

News about the government's plans to lift the restrictions sent gasoline prices up on the commodity exchange.

In connection with this, public organizations of retailers, traders and brokers wrote to Novak asking him to postpone the decision to lift the ban on gasoline exports until the domestic market is fully saturated and the sales volume on the exchange increases. The Interfax sources said the letter prompted ministries to have another look at the situation.