Russia extends ban on gasoline exports till year end

The Russian government has extended its ban on gasoline exports until Dec. 31, the Cabinet of Ministers said in a Telegram statement Wednesday.

According to the statement, the decision was made to maintain a stable situation in the fuel market during the ongoing seasonal demand and scheduled repairs carried out at oil refineries.

From March 1 to Aug. 31, Russia initially introduced a ban on the export of gasoline, to offset the growth in domestic demand in spring and summer.

The ban was temporarily lifted to prevent a reduction in oil refining t from mid-May to July 31 due to the saturation of the domestic market.