Russian Deputy Prime Minister Alexander Novak says the country will extend its ban on gasoline exports until the end of the current calendar year.
According to the TASS news agency, reporting on Saturday night, July 25, the extended ban will also apply to non-state fuel producers.
According to the report, Novak said fuel production in Russia has declined to some extent due to attacks on oil refineries, but the situation has partially stabilized.
He added that Russia has sufficient fuel reserves to meet domestic demand, but rebuilding logistics networks to address current needs will take some time.
The move comes as the closure of the Strait of Hormuz amid tensions and conflict between Iran and the United States has contributed to a rise in global oil prices.
