Situation on fuel market requires careful analysis; no decision to date on banning producers from exporting gasoline - Deputy PM Novak

MOSCOW. Feb 11 (Interfax) - The relevant Russian agencies intend to analyze the balance on the domestic market for petroleum products, after which they will reach a decision on possibly suspending exports of gasoline, Deputy Prime Minister Alexander Novak told reporters.

"We will look and reach decisions related to protecting our domestic market. This requires careful analysis," Novak said.

"We will definitely work through the initiative jointly with the Energy Ministry." Novak said in response to whether a decision had been reached on suspending producers from exporting gasoline.

The Federal Anti-monopoly Service (FAS) proposes suspending gasoline exports. "We are ready to propose several operational and strategic measures. Operational measures include initiating a discussion about the matter to ban producers from exporting gasoline for one month, which should incentivize stabilizing wholesale prices ahead of the sowing season," FAS told reporters.

Novak will hold a meeting on the situation on the petroleum products market on February 18. The ban on non-producers exporting gasoline is valid until February 28.