Russia has temporarily banned exports of gasoline and diesel to all countries outside a circle of four ex-Soviet states with immediate effect in order to stabilise the domestic market, the government said on Thursday.
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    MOSCOW, Sept 21 (Reuters) - Russia has temporarily banned exports of gasoline and diesel to all countries outside a circle of four ex-Soviet states with immediate effect in order to stabilise the domestic market, the government said on Thursday.

    It said the ban did not apply to fuel supplied under inter-governmental agreements to members of the Moscow-led Eurasian Economic Union, which includes Belarus, Kazakhstan, Armenia and Kyrgyzstan.

    “Temporary restrictions will help saturate the fuel market, which in turn will reduce prices for consumers,” the government said in a statement.

    The crunch has been especially painful in some parts of Russia’s southern breadbasket, where fuel is crucial for gathering the harvest.

    Russia has already cut its seaborne diesel and gasoil exports by nearly 30% to about 1.7 million metric tons in the first 20 days of September compared to the same period in August, according to traders and LSEG data.

    “Daily monitoring of fuel purchases for the needs of agricultural producers with prompt adjustment of volumes has also been set up.”

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