Russia bans gasoline exports for 6 months

MOSCOW, Feb 28 (Reuters): Russia on Tuesday ordered a six-month ban on gasoline exports from Mar 1 to keep prices stable amid rising demand from consumers and farmers and to allow for maintenance of refineries in the world's second largest oil exporter.
The ban, first reported by Russia's RBC, was confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak, President Vladimir Putin's point man for Russia's vast energy sector.
RBC, citing an unidentified source, said Prime Minister Mikhail Mishustin had approved the ban after Novak proposed it in a letter dated Feb 21. A second source told Reuters that the decision had been made but the decree had not yet been issued.
"In order to offset excessive demand for petroleum products, it is necessary to take measures to help stabilise prices in the domestic market," Novak was quoted as saying in his proposal by RBC.
Domestic gasoline prices are sensitive for motorists and farmers in the world's biggest wheat exporter ahead of a Mar 15 to 17 presidential election, while some Russian refineries have been hit by Ukrainian drone attacks in recent months.