Russia orders Energy Ministry to ban gasoline exports from April 1
Exporters' shipping teams cannot load gasoline cargoes for export from Apr 1
Change
Russia's Deputy Prime Minister instructed the Energy Ministry to draft a resolution to ban gasoline exports, initiating formal export-control measures.
Why it matters
ed ban is set to take effect on April 1 and to remain in force through July 31. The government cited global oil-market turmoil and rising domestic demand as the rationale for restricting outbound gasoline during that period.
Implications
- — Exporters' shipping and logistics teams must halt scheduled gasoline export loadings with loading dates on or after April 1 — consignments with load dates between April 1 and July 31 cannot be lawfully exported.
- — Trading desks and contract managers at oil trading firms must immediately suspend execution of new export sale contracts for gasoline with delivery windows from April 1 through July 31 — such contracts cannot be fulfilled while the ban is in force, creating non-delivery exposure.
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Source
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