Kremlin wants to import fuel for scarcity

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Lerato Khumalo

Due to lack of fuel, Russia had already extended its export ban for petrol and diesel at the end of September to the end of the year. “This helps us to also secure the market with oil products,” said Vice-Head of Novak, according to the Interfax news agency. He admitted that Russia had a deficit of fuels.

The lack of fuels had recently led to significantly higher prices at the petrol pumps. The export of fuels has been banned since March because the Russian leadership wants to stabilize the situation in the local market. According to Nowak, the ban applies to all market participants, with the exception of intergovernmental agreements.

Russian petrol stations have also started to limit the amount of gasoline. The number of petrol stations dealing with petrol in Russia has dropped by 360 or 2.6 percent within two months, as “Kommersant” reported. The deficit in the south of the country is particularly noticeable. Petrol production fell by ten percent.