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Record Gas Prices Spark Russian Export Ban Amid Demand Surge

9/5/2025

Summary

Story summary

Wholesale gasoline prices in Russia reached a record 82,380 rubles ($1,000) per ton due to Ukrainian strikes and high seasonal demand.
Prices have surged over 50% since January, leading to a temporary ban on gasoline exports for August and September.
China and Russia signed agreements to boost gas exports, including the Power of Siberia 2 pipeline.
Gazprom plans to raise gas supplies to China from 38 billion to 44 billion cubic meters annually.
Russia's crude oil supply to China via Kazakhstan will increase by 2.5 million tonnes, strengthening bilateral ties amid U.S. pressure.

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Story summary

Wholesale gasoline prices in Russia reached a record 82,380 rubles ($1,000) per ton due to Ukrainian strikes and high seasonal demand.
Prices have surged over 50% since January, leading to a temporary ban on gasoline exports for August and September.
China and Russia signed agreements to boost gas exports, including the Power of Siberia 2 pipeline.
Gazprom plans to raise gas supplies to China from 38 billion to 44 billion cubic meters annually.
Russia's crude oil supply to China via Kazakhstan will increase by 2.5 million tonnes, strengthening bilateral ties amid U.S. pressure.