ST. PETERSBURG, July 15 (Xinhua) -- Russia will introduce a new mechanism limiting purchases of gasoline on the commodity exchange to end-users or authorized buyers acting on their behalf, beginning on July 21, the Saint Petersburg International Mercantile Exchange has announced.

This photo taken on Dec. 18, 2022 shows equipment at Kovykta gas condensate field in Irkutsk, Russia. (File photo: Xinhua)

In an announcement published on its website on Tuesday, the exchange said that the new rule is aimed at improving transparency in supply chains and giving priority access to end-consumers.

Under the new mechanism, gasoline traded on the exchange may only be purchased for the buyer's own consumption or on behalf of third parties that are end-users. Purchases for third parties will be permitted only for trading participants that are members of both the exchange and its petroleum products section. Eligible participants will be listed on the exchange's website.

Starting on July 21, buyers using the "free on rail at the departure station" delivery terms will also be required to specify that the consignee or sub-consignee is an end user and provide a declaration confirming that the gasoline is intended for end-user consumption.

Violations of the new requirements will be treated as breaches of the exchange's organized trading rules and may result in disciplinary measures, including a suspension or termination of trading access.

Russia has been facing a nationwide supply shortage of fuel due to repeated Ukrainian drone attacks on its energy infrastructure in recent weeks.