Russia lifts petrol export ban to get rid of surplus fuel: Deputy PM Novak

Russia has saturated the domestic market with fuel, which is why it decided to lift a ban on gasoline exports to get rid of surplus, Deputy Prime Minister Alexander Novak said on Friday.

The suspension of the export ban was announced earlier this week. This will increase the load on oil refineries, which will bring additional revenue, Novak said, adding that the export ban itself is a “normal tool” that will continue to be used if necessary.