Russian Manufacturing Contracts Further as Government Extends Fuel Export Ban to Secure Domestic Supply

Data released by S&P Global on December 28, 2025, showed Russia's Manufacturing Purchasing Managers' Index (PMI) fell to 48.1 in December from 48.3 in November, remaining below the 50-point threshold that separates expansion from contraction and signaling a continued downturn in manufacturing activity. To ensure domestic energy supply and market stability, the Russian government passed a resolution on December 25 to extend a temporary ban on gasoline exports until February 28, 2026, with similar restrictions on diesel and other products.

Deputy Prime Minister Alexander Novak stated the export limits prioritized domestic supply during peak demand periods and that the market had now reached balance. The move highlights Russia's prioritization of domestic needs amid economic pressures.