Russia plans to "completely ban gasoline exports" starting April 1! To prevent domestic oil prices from spiraling out of control, it may drive up global inflation.

According to market news, in response to rising domestic fuel prices and supply tightness, the Russian government is considering a complete ban on gasoline exports starting April 1. Deputy Prime Minister Alexander Novak confirmed that discussions have begun with oil companies.
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The global energy market faces new variables. According to reports from Reuters, TASS, and Interfax, Russian Deputy Prime Minister Alexander Novak revealed on March 26 that in order to stabilize the domestic market, Russia may reinstate a gasoline export ban and has urgently summoned major oil companies for a meeting to discuss countermeasures on the 27th.

In response to supply tightness, the ban could last until the end of July

Due to issues with refinery operations, a seasonal increase in demand, and various geopolitical factors, domestic fuel prices in Russia have been rising steadily, and supply is under strain. Reports indicate that the government is actively considering imposing a gasoline export ban on all market participants, including producers, starting April 1, to prioritize the stability of the domestic market.

Some reports further indicate that discussions regarding this ban are nearing a decision, and the implementation period is highly likely to extend until July 31 (consistent with the original deadline for the diesel ban aimed at non-producers).

Normalized intervention impacting global inflation

In fact, this is not the first time Russia has taken such extreme measures. Between 2025 and 2026, Russia has repeatedly utilized temporary export bans to strongly control domestic oil prices. Analysts are concerned that as global crude oil supply is already tight and conflicts in the Middle East are frequent, if energy giant Russia tightens exports again, it will undoubtedly drive up international oil prices and further exacerbate the inflationary pressures faced by global central banks.