Russia bans gasoline exports until Aug. 31

ISTANBUL

Russia said Monday that it has temporarily banned gasoline exports until Aug. 31.

"The decision was made to maintain a stable situation on the domestic fuel market during the period of high seasonal demand and agricultural field work," the government said in a statement.

Earlier this month, Deputy Prime Minister Alexander Novak held a meeting with industry representatives regarding rising fuel prices and ordered them to take the necessary measures to address these prices.

Russia experiences periodic increases in gasoline prices due to drone attacks on oil refineries and increased demand, particularly in the agricultural sector.

Russia, one of the world's largest energy exporters, produces more than 40 million tons of gasoline annually.