Russia Bans Gasoline Exports from April 1 Through July 31 Amid Middle East Energy Chaos

Moscow Prioritizes Domestic Supply as Global Oil Markets Face Dual Crisis

Russia has announced a temporary ban on gasoline exports effective April 1 through July 31, as the Middle East conflict creates unprecedented turbulence in global energy markets.

The Ban

• Duration: April 1 — July 31, 2026 (4 months)
• Scope: All gasoline exports
• Reason: Stabilize domestic prices amid global energy market chaos
• Authority: Deputy PM Alexander Novak directed the Energy Ministry to draft the order

The Context

Russia's move comes as the Iran-US conflict has severely disrupted the Strait of Hormuz, through which approximately 21 million barrels of oil flow daily. Meanwhile, Houthi forces in Yemen have entered the conflict, threatening the Strait of Mandeb — another critical energy chokepoint.

Putin's Calculus

President Putin reportedly told business leaders that while the Middle East conflict has brought Russia "excess profits" as an energy exporter, this situation "will not last long." He instructed the Finance Ministry and energy companies not to expect long-term "windfall profits."

Market Impact

• Russia is one of the world's largest gasoline exporters
• The ban removes supply from an already tight global market
• Compounds price pressures from Hormuz and Mandeb disruptions
• Russia has imposed similar temporary restrictions on gasoline and diesel exports multiple times previously

COSCO Ships Turning Back

In a separate development, two COSCO Shipping container vessels — the "COSCO Arctic Ocean" and "COSCO Indian Ocean" — were tracked turning back toward the Persian Gulf after approaching the Strait of Hormuz, unable to pass through. This signals the practical impact of the Iran conflict on global shipping.

What This Means

The convergence of Russia's export ban with Middle East shipping disruptions creates a compounding supply shock. Oil prices, already elevated, face additional upward pressure from the dual supply constraints.

Source: TASS, Zhihu, Reuters, Bloomberg