On Wednesday, Russia announced the lifting of a temporary export ban on diesel, claiming that the two-month restrictions had successfully lowered domestic fuel costs that had been rising.
In a decision that shook international markets, Moscow stopped exporting products that included petrol and diesel in September.
According to the ministry of energy, steps have been taken to increase supplies within Russia and lower rising costs that are negatively affecting businesses and drivers throughout the nation.
It announced on Wednesday that it was lifting the limits following a decline in prices and a 14% increase in domestic reserves to 3.2 million metric tonnes during the two months that exports were restricted.
It comes after the majority of Russia’s diesel shipments by sea were freed from restrictions last month and this week’s lifting of the export ban on petrol.
Jerrymusa.com reports that the leading oil corporations in Russia have been urging the government to remove the limitations in recent days.
The rise in domestic inflation caused by the spike in Russian pump prices over the summer has alarmed the Kremlin.