Russian regulator prepared to back restrictions on gasoline exports

MOSCOW. May 24 (Interfax) - The Federal Antimonopoly Service (FAS) is prepared to support restrictions on gasoline exports if they are proposed, the head of the Russian regulator, Maxim Shaskolsky told Interfax.

Asked about the regulator's position on a possible ban on gasoline exports to stabilize prices on the domestic fuel market, he said the FAS "will support this mechanism if it is proposed."

"Such a measure would protect the fuel market. We will follow prices. The Energy Ministry is responsible for the operations of oil companies, it there is an initiative from [it] we will support it," Shaskolsky said.

Commenting on the current situation with gasoline prices, he said retail prices are stable at the moment but there was an increase in prices on the exchange. "And we have already proposed to increase exchange sales of gasoline to 15% [of production]," Shaskolsky said.