Moscow, March 27 -- The Government of Russia on Friday (local time) announced a ban on gasoline exports starting April 1, aiming to prioritise domestic supplies and stabilise fuel prices amid global market turbulence due to the ongoing conflict in West Asia.

The announcement followed a meeting chaired by Russian Deputy Prime Minister Alexander Novak to review the situation in the domestic petroleum product market.

According to a statement issued by the Government of the Russian Federation, Novak highlighted that the ongoing crisis in West Asia is causing significant fluctuations in global oil and petroleum product prices, although demand for Russian energy abroad remains strong.

During the meeting, particular emphasis was placed on the...