Russia has announced a ban on exports of gasoline and diesel fuel, aiming to stabilise rising domestic prices and improve the country's fuel supply.

The government decree issued on Thursday said the restrictions would be temporary but did not give a date for them ending.

The move was expected to lead to increased fuel prices in the world market.

Russia's exports of diesel fuel are estimated at about 9,00,000 barrels a day and the country has exported 60,000-1,00,000 barrels of gasoline daily, state news agency Tass reported.

Tass said domestic fuel prices dropped by about 4 per cent after the ban was announced.

The ban will not apply to other countries in the Moscow-led Eurasian Economic Union trading bloc — Armenia, Belarus, Kyrgyzstan and Kazakhstan.