Russian Deputy Prime Minister Novak: fuel export ban will continue

Russian Deputy Prime Minister Aleksandr Novak stated that they will maintain the ban on fuel exports until stability is achieved in the domestic market.

Novak spoke to journalists in Sochi about the evolution of the oil markets.

Novak stated that practices such as oil price caps create negative consequences: “The worst thing is that it creates a precedent that can be used not only against Russian energy resources but also against other countries and other products in the future.”

Novak stated that the price cap is an ineffective tool and only affects final consumers.

WILL CONTINUE UNTIL STABILITY IS REACHED

Responding to the question of how long the fuel export ban imposed by Russia will last, Novak said: “It will continue until stability in the domestic market is achieved.” saying.

The Russian government banned the export of fuel products on September 21 due to rising gasoline and diesel prices in the country. (AA)