EMEA News
Russia Exempts Bunker Fuel From Refined Product Export Ban
Russia's government has approved exempting fuel oil used for bunkering from the ban on refined product exports announced last week.
Last week the Russian government announced it would be temporarily halting exports of diesel and gasoline in a bid to stabilise domestic prices.
The has now approved lifting the restrictions for fuel used for bunkering for some vessels as well as diesel with high content of sulphur, news agency Reuters reported on Monday, citing a government document.
Restrictions have also been lifted on the export of fuel already accepted for export by Russian Railways and Transneft before the initial ban had been announced last week.
The temporary ban on fuel exports has been prompted by price volatility in Russia's domestic refined products markets.
The country exports about 1 million b/d of diesel and gasoline, and a complete halt in these shipments would add considerable pressure to the already tight global market for middle distillates.
