The Russian government has announced that the ban on gasoline imports will be implemented from April 1.

The Russian government reported that Alexander Novak, the Deputy Prime Minister of Russia, had instructed his energy ministry on Friday to draft a resolution banning gasoline exports as of April 1, 2019.

The state-run TASS reported earlier that the ban will remain in effect until July 31.

Novak stated that the turmoil on 'the global oil market and its products, which is caused by a crisis in the Middle East has led to significant price changes. He also said that the demand for Russian energy resources on foreign markets is high.

The government stated that the processing of crude oil remains at the same level as last year, which ensures a stable supply.

Last year, several regions of Russia and Ukraine were experiencing gasoline shortages after Ukraine intensified its attacks on Russian oil refining facilities and amid a surge in seasonal fuel demand.

Russia has repeatedly implemented curbs on gasoline and diesel exports in order to reign in rising fuel prices.

According to industry sources?the country export nearly?5 millions metric tons?of gasoline per year, or approximately 117,000 barrels a day.

(source: Reuters)