IN Russia, the government is set to impose a six-month ban on gasoline exports.
The ban, which was imposed starting March 1, was first reported by Russia’s RBC.
It was previously confirmed on Tuesday by a spokeswoman for Deputy Prime Minister Alexander Novak— who is President Vladimir Putin‘s personally designated man for the country’s energy sector.
The six-month ban aims to offset the growth in demand in spring and summer, and stabilize prices in the energy market.
But the restriction will not apply to export agreements with countries in the Eurasian Economic Union and with other governments.
The ban will also not apply to fuel used to provide international humanitarian aid.
Russia first introduced a ban on gasoline exports from September 21 to November 17 last year to stabilize the price situation in the domestic motor fuel market.
But this restriction was lifted after the domestic fuel market reached saturation and a supply surplus was established.
