Russia Implements 6-Month Ban on Gasoline Exports Due to Ukraine Strikes

Russia has imposed a six-month ban on gasoline exports in response to booming domestic demand and fuel shortages, exacerbated by Ukraine's strikes on Russian oil hubs and refineries. The ban, effective from May 1, aims to stabilize domestic prices and will not apply to certain countries within the Eurasian Economic Union. Russia's reliance on oil exports, which account for a significant portion of its budget revenues, has been further strained by Western sanctions and the U.S. ban on Russian oil imports.