The global petrol market will not experience a shortage of products from Russia – Sergey Kuyun
28 February 13:21
The ban on petrol exports that comes into force in Russia on 1 March will not affect the Ukrainian and European markets. This was stated in an exclusive commentary to Kommersant Ukrainian 
said Sergey Kuyun, Director of the A-95 Consulting Group.
“This story will not affect anything. Russia produces a lot of oil, and it is a significant player in the diesel market, but as for petrol, it cannot be said that it is a very influential global player. It’s not the first time they’ve done this, there was an embargo last year, I think, and no one felt it. The market has coped with it quite well,”
– says the expert.
He added that there is no Russian petrol on the Ukrainian and European markets at all:
“There is no Russian petrol on our market at all, we only import from the EU. Europe also has an embargo on the supply of petroleum products from Russia. The EU is generally self-sufficient in petrol, it produces it.”
Sergiy Kuyun says that the global market for motor vehicle fuel is generally more focused on diesel than petrol.
“Petrol consumption is actually low in the world. In Europe, it accounts for about 30% of total sales at petrol stations, the rest is diesel. Diesel is the mass product, and it is the reason for the recent nervousness,”
– the market expert added.
Gennadiy Ryabtsev, Director of Special Projects at Psyche, expressed the same opinion that the Russian export ban does not affect the markets.
On 1 March, Russia imposed a ban on petrol exports that will be in effect for six months. This coincided with a series of drone attacks on Russian refineries – there have been 4 such attacks since the beginning of 2024. After that, the price of petrol rose significantly on the Russian market.
