27.03.2026 21:30
Following Iran's closure of the Strait of Hormuz, a decision that will shake international oil markets also came from Russia. Russia has decided to ban gasoline exports by domestic producers for a period of four months starting from April 1.
Russia has banned the export of gasoline by domestic producers as of April 1. The decision will be valid from April 1 to July 31.
GASOLINE EXPORTS ARE BANNED IN RUSSIA FOR 4 MONTHS
According to a report by the TASS state news agency, based on two sources familiar with the matter, Russia is preparing to ban the export of gasoline by domestic producers starting from April 1.
According to the report, this decision was made following a meeting between Russian Deputy Prime Minister Alexander Novak, relevant ministries, and oil companies, and will remain in effect until July 31.
Novak later stated that this measure aims to balance prices, prioritize fuel supply for the domestic market, and prevent costs from exceeding projected levels.
IRAN'S DECISION TO CLOSE THE STRAIT OF HORMUZ
The closure of the Strait of Hormuz, through which approximately 25% of the world's oil and 20% of liquefied natural gas (LNG) is transported, has triggered the largest supply shock seen in global energy markets since the 1970s, causing Brent crude oil prices to rapidly exceed the $120 mark.
This situation, which has led to skyrocketing production costs worldwide, especially for energy-dependent Asian economies such as China, India, and Japan, has triggered global inflation, increased shipping insurance premiums by 4 to 6 times, and laid the groundwork for a serious energy crisis in Europe due to the disruption of LNG flows from Qatar.
This disruption in the supply chain has not only been limited to energy but has also restricted access to fertilizers and raw materials, bringing about a systemic economic stagnation (stagflation) risk that threatens global food security.