Russia extends petrol export ban as prices soar

Russia extends petrol export ban as prices soar

Ukraine routinely attacks Russian refineries and oil depots to disrupt Moscow’s ability to fund its military offensive.

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Russia, a major global oil producer, has taken steps in recent months to temper fuel prices approaching record highs. (AFP pic)
MOSCOW:
Russian authorities said Wednesday that a ban on petrol exports would be extended to Oct 31 in a bid to lower fuel prices that have soared after Ukrainian attacks on refineries.

Ukraine routinely targets Russian refineries and oil depots to hamper Moscow’s ability to fund its offensive.

Russia, one of the world’s biggest oil producers, has taken several measures in recent months to ease fuel prices that reached near-record highs this month.

The government announced on Telegram that it had implemented “a new temporary ban on exports of petrol for cars”, saying it wanted to “maintain a stable situation for the domestic fuels market”.

Recent Ukrainian attacks have also disrupted air and railway travel, prompting more people to drive during the summer travel season, further increasing petrol demand.

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