Russia extends fuel export ban until 2027 to fight shortages

Russia's fuel market experienced significant disruptions in August, characterized by long queues at gas stations and the introduction of consumption limits in several regions. The shortage resulted from a combination of peak seasonal demand and technical failures at refineries, which reduced overall supply. To address the domestic shortage, the Russian government has extended the ban on fuel exports until 2027. The objective of this policy is to saturate the internal market by preventing the outflow of petroleum products. Gennady Chernov, petroleum market analyst: "Market stabilization depends on how quickly refining volumes can be increased and logistics chains to the problematic regions can be established."