Russia calls temporary halt to gasoline, diesel fuel exports

Russia has announced a ban on exports of gasoline and diesel fuel, aiming to stabilize rising domestic prices and improve the country’s fuel supply. The government decree says the restrictions would be temporary but did not give a date for them ending. The move is expected to lead to increased fuel prices on the world market. State news agency Tass says Russia’s exports of diesel fuel are estimated at about 900,000 barrels a day and the country has exported 60,000 to 100,000 barrels of gasoline daily. Tass says domestic fuel prices dropped by about 4% after the ban was announced.