diff --git a/commands/variable/list/list.go b/commands/variable/list/list.go
index d0ae4b2e..4ae0a348 100644
--- a/commands/variable/list/list.go
+++ b/commands/variable/list/list.go
@@ -4,6 +4,7 @@ import (
 	"github.com/MakeNowJust/heredoc"
 	"github.com/spf13/cobra"
 	"github.com/xanzy/go-gitlab"
+
 	"gitlab.com/gitlab-org/cli/api"
 	"gitlab.com/gitlab-org/cli/commands/cmdutils"
 	"gitlab.com/gitlab-org/cli/commands/flag"
@@ -31,9 +32,11 @@ func NewCmdSet(f *cmdutils.Factory, runE func(opts *ListOpts) error) *cobra.Comm
 		Short:   "List project or group variables",
 		Aliases: []string{"ls"},
 		Args:    cobra.ExactArgs(0),
-		Example: heredoc.Doc(`
+		Example: heredoc.Doc(
+			`
 			glab variable list
-		`),
+		`,
+		),
 		RunE: func(cmd *cobra.Command, args []string) (err error) {
 			// Supports repo override
 			opts.HTTPClient = f.HttpClient
@@ -55,7 +58,12 @@ func NewCmdSet(f *cmdutils.Factory, runE func(opts *ListOpts) error) *cobra.Comm
 	}
 
 	cmdutils.EnableRepoOverride(cmd, f)
-	cmd.PersistentFlags().StringP("group", "g", "", "Select a group/subgroup. This option is ignored if a repo argument is set.")
+	cmd.PersistentFlags().StringP(
+		"group",
+		"g",
+		"",
+		"Select a group/subgroup. This option is ignored if a repo argument is set.",
+	)
 
 	return cmd
 }
@@ -73,7 +81,7 @@ func listRun(opts *ListOpts) error {
 	}
 
 	table := tableprinter.NewTablePrinter()
-	table.AddRow("KEY", "PROTECTED", "MASKED", "SCOPE")
+	table.AddRow("KEY", "PROTECTED", "MASKED", "EXPANDED", "SCOPE")
 
 	if opts.Group != "" {
 		opts.IO.Logf("Listing variables for the %s group:\n\n", color.Bold(opts.Group))
@@ -83,7 +91,7 @@ func listRun(opts *ListOpts) error {
 			return err
 		}
 		for _, variable := range variables {
-			table.AddRow(variable.Key, variable.Protected, variable.Masked, variable.EnvironmentScope)
+			table.AddRow(variable.Key, variable.Protected, variable.Masked, !variable.Raw, variable.EnvironmentScope)
 		}
 	} else {
 		opts.IO.Logf("Listing variables for the %s project:\n\n", color.Bold(repo.FullName()))
@@ -93,7 +101,7 @@ func listRun(opts *ListOpts) error {
 			return err
 		}
 		for _, variable := range variables {
-			table.AddRow(variable.Key, variable.Protected, variable.Masked, variable.EnvironmentScope)
+			table.AddRow(variable.Key, variable.Protected, variable.Masked, !variable.Raw, variable.EnvironmentScope)
 		}
 	}
 
diff --git a/commands/variable/set/set.go b/commands/variable/set/set.go
index be7a6a8f..d576f74f 100644
--- a/commands/variable/set/set.go
+++ b/commands/variable/set/set.go
@@ -26,6 +26,7 @@ type SetOpts struct {
 	Scope     string
 	Protected bool
 	Masked    bool
+	Raw       bool
 	Group     string
 }
 
@@ -91,6 +92,7 @@ func NewCmdSet(f *cmdutils.Factory, runE func(opts *SetOpts) error) *cobra.Comma
 	cmd.Flags().StringVarP(&opts.Scope, "scope", "s", "*", "The environment_scope of the variable. All (*), or specific environments")
 	cmd.Flags().StringVarP(&opts.Group, "group", "g", "", "Set variable for a group")
 	cmd.Flags().BoolVarP(&opts.Masked, "masked", "m", false, "Whether the variable is masked")
+	cmd.Flags().BoolVarP(&opts.Raw, "raw", "r", false, "Whether the variable is treated as a raw string")
 	cmd.Flags().BoolVarP(&opts.Protected, "protected", "p", false, "Whether the variable is protected")
 	return cmd
 }
@@ -111,6 +113,7 @@ func setRun(opts *SetOpts) error {
 			Masked:           gitlab.Bool(opts.Masked),
 			Protected:        gitlab.Bool(opts.Protected),
 			VariableType:     gitlab.VariableType(gitlab.VariableTypeValue(opts.Type)),
+			Raw:              gitlab.Bool(opts.Raw),
 		}
 		_, err = api.CreateGroupVariable(httpClient, opts.Group, createVarOpts)
 		if err != nil {
@@ -133,6 +136,7 @@ func setRun(opts *SetOpts) error {
 		Masked:           gitlab.Bool(opts.Masked),
 		Protected:        gitlab.Bool(opts.Protected),
 		VariableType:     gitlab.VariableType(gitlab.VariableTypeValue(opts.Type)),
+		Raw:              gitlab.Bool(opts.Raw),
 	}
 	_, err = api.CreateProjectVariable(httpClient, baseRepo.FullName(), createVarOpts)
 	if err != nil {
diff --git a/commands/variable/set/set_test.go b/commands/variable/set/set_test.go
index d97493ca..12fa0237 100644
--- a/commands/variable/set/set_test.go
+++ b/commands/variable/set/set_test.go
@@ -90,6 +90,36 @@ func Test_NewCmdSet(t *testing.T) {
 				Group: "coolGroup",
 			},
 		},
+		{
+			name: "raw variable with flag",
+			cli:  `cool_secret -r -v"$variable_name"`,
+			wants: SetOpts{
+				Key:   "cool_secret",
+				Value: "$variable_name",
+				Raw:   true,
+				Group: "",
+			},
+		},
+		{
+			name: "raw variable with flag in group",
+			cli:  `cool_secret -r --group coolGroup -v"$variable_name"`,
+			wants: SetOpts{
+				Key:   "cool_secret",
+				Value: "$variable_name",
+				Raw:   true,
+				Group: "coolGroup",
+			},
+		},
+		{
+			name: "raw is false by default",
+			cli:  `cool_secret -v"$variable_name"`,
+			wants: SetOpts{
+				Key:   "cool_secret",
+				Value: "$variable_name",
+				Raw:   false,
+				Group: "",
+			},
+		},
 	}
 
 	for _, tt := range tests {
@@ -140,6 +170,7 @@ func Test_setRun_project(t *testing.T) {
     			"variable_type": "env_var",
     			"protected": false,
     			"masked": false,
+				"raw": false,
 				"scope": "production"
 			}
 		`),
@@ -179,6 +210,7 @@ func Test_setRun_group(t *testing.T) {
     			"variable_type": "env_var",
     			"protected": false,
     			"masked": false,
+				"raw": false,
 				"scope": "production"
 			}
 		`),
diff --git a/commands/variable/update/update.go b/commands/variable/update/update.go
index 670af28a..bc6c1f14 100644
--- a/commands/variable/update/update.go
+++ b/commands/variable/update/update.go
@@ -26,6 +26,7 @@ type UpdateOpts struct {
 	Scope     string
 	Protected bool
 	Masked    bool
+	Raw       bool
 	Group     string
 }
 
@@ -95,6 +96,7 @@ func NewCmdSet(f *cmdutils.Factory, runE func(opts *UpdateOpts) error) *cobra.Co
 	cmd.Flags().StringVarP(&opts.Scope, "scope", "s", "*", "The environment_scope of the variable. All (*), or specific environments")
 	cmd.Flags().StringVarP(&opts.Group, "group", "g", "", "Set variable for a group")
 	cmd.Flags().BoolVarP(&opts.Masked, "masked", "m", false, "Whether the variable is masked")
+	cmd.Flags().BoolVarP(&opts.Raw, "raw", "r", false, "Whether the variable is treated as a raw string")
 	cmd.Flags().BoolVarP(&opts.Protected, "protected", "p", false, "Whether the variable is protected")
 	return cmd
 }
@@ -118,6 +120,7 @@ func updateRun(opts *UpdateOpts) error {
 			VariableType:     gitlab.VariableType(gitlab.VariableTypeValue(opts.Type)),
 			Masked:           gitlab.Bool(opts.Masked),
 			Protected:        gitlab.Bool(opts.Protected),
+			Raw:              gitlab.Bool(opts.Raw),
 			EnvironmentScope: gitlab.String(opts.Scope),
 		}
 
@@ -140,6 +143,7 @@ func updateRun(opts *UpdateOpts) error {
 			VariableType:     gitlab.VariableType(gitlab.VariableTypeValue(opts.Type)),
 			Masked:           gitlab.Bool(opts.Masked),
 			Protected:        gitlab.Bool(opts.Protected),
+			Raw:              gitlab.Bool(opts.Raw),
 			EnvironmentScope: gitlab.String(opts.Scope),
 		}
 
diff --git a/commands/variable/update/update_test.go b/commands/variable/update/update_test.go
index 258a2a36..053076f0 100644
--- a/commands/variable/update/update_test.go
+++ b/commands/variable/update/update_test.go
@@ -65,6 +65,37 @@ func Test_NewCmdSet(t *testing.T) {
 				Group:     "coolGroup",
 			},
 		},
+		{
+			name: "raw variable with flag",
+			cli:  `cool_secret -r -v"$variable_name"`,
+			wants: UpdateOpts{
+				Key:   "cool_secret",
+				Value: "$variable_name",
+				Raw:   true,
+				Group: "",
+			},
+		},
+		{
+			name: "raw variable with flag in group",
+			cli:  `cool_secret -r --group coolGroup -v"$variable_name"`,
+			wants: UpdateOpts{
+				Key:   "cool_secret",
+				Value: "$variable_name",
+				Raw:   true,
+				Group: "coolGroup",
+			},
+		},
+		{
+			name: "raw is false by default",
+			cli:  `cool_secret -v"$variable_name"`,
+			wants: UpdateOpts{
+				Key:   "cool_secret",
+				Value: "$variable_name",
+				Raw:   false,
+				Group: "",
+			},
+		},
+
 		{
 			name: "leading numbers in name",
 			cli:  `123_TOKEN -v"cool"`,
diff --git a/docs/source/variable/set.md b/docs/source/variable/set.md
index 6f402181..788c1705 100644
--- a/docs/source/variable/set.md
+++ b/docs/source/variable/set.md
@@ -43,6 +43,7 @@ cat token.txt | glab variable set GROUP_TOKEN -g mygroup --scope=prod
   -g, --group string   Set variable for a group
   -m, --masked         Whether the variable is masked
   -p, --protected      Whether the variable is protected
+  -r, --raw            Whether the variable is treated as a raw string
   -s, --scope string   The environment_scope of the variable. All (*), or specific environments (default "*")
   -t, --type string    The type of a variable: {env_var|file} (default "env_var")
   -v, --value string   The value of a variable
diff --git a/docs/source/variable/update.md b/docs/source/variable/update.md
index 23ab584c..d45fc5ec 100644
--- a/docs/source/variable/update.md
+++ b/docs/source/variable/update.md
@@ -36,6 +36,7 @@ cat token.txt | glab variable update GROUP_TOKEN -g mygroup --scope=prod
   -g, --group string   Set variable for a group
   -m, --masked         Whether the variable is masked
   -p, --protected      Whether the variable is protected
+  -r, --raw            Whether the variable is treated as a raw string
   -s, --scope string   The environment_scope of the variable. All (*), or specific environments (default "*")
   -t, --type string    The type of a variable: {env_var|file} (default "env_var")
   -v, --value string   The value of a variable