New Delhi, March 28 -- The Russian government on Friday announced that it will impose a ban on gasoline exports starting 1 April, with an aim to prioritise domestic supplies and stabilise fuel prices at a time when the global energy market has been jeopardised amid the ongoing US-Iran war in the Middle East.

In a statement issued by the Government of the Russian Federation, Deputy Prime Minister Alexander Novak said that the ongoing Middle East crisis is causing significant fluctuations in global oil and petroleum product prices. However, demand for Russian energy abroad remained strong, he said.

The announcement followed a meeting chaired Novak to review the situation in the domestic petroleum product market.

During the meeting, parti...