Russia has suspended the ban on gasoline exports introduced earlier this year, the government said in a statement.

According to a statement, the Russian government has temporarily allowed fuel producers to export gasoline until June 30, and the ban will remain in place for the period from July 1 to August 31.

The government said that the decision was taken due to the sufficient supply of gasoline on the domestic market and to prevent some refineries from reducing their refining capacity due to overstocking of gasoline.

In order to stabilise the market amidst growing domestic demand, Russia introduced a ban on gasoline exports on March 1, which was supposed to expire on August 31.

The ban does not apply to supplies under international intergovernmental agreements, including those between Russia and Eurasian Economic Union member states, as well as gasoline intended for personal consumption or international humanitarian aid.

(Xinhua/NAN)