Russia bans gasoline exports for six months starting March

On Tuesday, Russia 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 was first reported by RBC and confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak.

Russia previously imposed a similar ban between September and November last year 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.

Reuters