Russia bans gasoline exports for 6 months from March 1

Russia on Tuesday announced a six-month ban on gasoline exports from March 1 to compensate for rising demand from consumers and farmers and to allow for planned maintenance of refineries. The ban, first reported by RBC, was confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak. (Writing by Felix Light; editing by Guy Faulconbridge)

Russia on Tuesday announced a six-month ban on gasoline exports from March 1 to compensate for rising demand from consumers and farmers and to allow for planned maintenance of refineries.

The ban, first reported by RBC, was confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak. Russia previously imposed a similar ban between September and November last year in order to tackle high domestic prices and shortages. Only four ex-Soviet states - Belarus, Kazakhstan, Armenia and Kyrgyzstan - were exempt.

This time, the ban will not extend to member states of the Eurasian Economic Union, Mongolia, Uzbekistan and two Russian-backed breakaway regions of Georgia - South Ossetia and Abkhazia. (Writing by Felix Light; editing by Guy Faulconbridge)