Russia Has No Plans To Lift Its Fuel Export Ban

Russia has no immediate plans of lifting a partial ban on fuel exports introduced in September until part of the volumes that Russian refineries churn out “have nowhere to go”, Deputy Prime Minister Alexander Novak told media. The fuel export ban was imposed in response to soaring retail fuel prices on the domestic market. Later, in early October, Moscow softened the ban, by allowing pipeline exports of diesel but only for suppliers that sold 50% of their output on the domestic market. Russian refineries meanwhile were in maintenance…