Search Site

Trends banner

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Russia to ban petrol exports for six months to meet domestic demand

The ban on exports will be for six months. (AFP)
  • The Kremlin is also keen to avoid fuel shortages on the domestic market ahead of elections next month, in which President Vladimir Putin is seeking to extend his grip on power.
  • Russia announced a similar export ban on diesel and petrol last year, after farmers in some regions were unable to harvest grain due to fuel shortages.

Moscow, Russia — Russia will introduce a six-month ban on petrol exports from March 1 to ensure it has enough fuel to meet domestic demand, the government said Thursday.

Despite being the world’s third largest oil producer, Russia has suffered sporadic fuel shortages since last summer amid high demand and repair works on refineries.

Wholesale gasoline prices have risen since the start of the year, a problem exacerbated by repeated Ukrainian drone attacks on oil refineries.

“Restrictions on petrol exports are introduced for six months, from 1 March to 31 August,” the government said in a statement Thursday.

It said the move was aimed at “maintaining a stable situation on the fuel market during a period of high demand associated with spring agricultural works, the holiday season and scheduled repairs of oil refineries.”

The Kremlin is also keen to avoid fuel shortages on the domestic market ahead of elections next month, in which President Vladimir Putin is seeking to extend his grip on power.

Russia announced a similar export ban on diesel and petrol last year, after farmers in some regions were unable to harvest grain due to fuel shortages.