2/8, 2:42 PM (Source: TeleTrader)
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Kazakhstan bans oil product exports for 4 months

Kazakhstan prohibited the export of oil products, including gasoline and diesel fuel for four months, the State Revenue Committee of the Ministry of Finance announced on Wednesday.

The ban encompasses "gasoline, diesel fuel and certain types of petroleum products, with the exception of lubricating oils" and includes all modes of transport. In line with relevant legislation, the order will come into effect 10 calendar days after the day of its first official publication.

Astana introduced the ban on the export of oil products by road in July 2022, as the country's Ministry of Energy cited the insupportable demand created by the price of diesel fuel being lower than in neighboring Russia, Uzbekistan, and Kyrgyzstan.

Baha Breaking News (BBN) / MX