OREANDA-NEWS  The Hungarian government is banning the export of oil, gasoline and diesel amid rising prices in Europe due to the situation in the Middle East, said Minister of National Economy Marton Nagy.

The Hungarian government has limited the price of gasoline and diesel since March 10 to curb rising fuel prices. The decision to freeze prices was made at an extraordinary government meeting in connection with a sharp increase in fuel prices in Europe due to the escalation in the Middle East and the shutdown of the Druzhba oil pipeline by Ukraine, which also affected Hungary.

"The government bans the export of crude oil, grade 95 gasoline and diesel fuel and takes the strongest measures against trade abuses," Nagy wrote on Facebook*.

The minister also said that the government has decided to release oil reserves for 45 days.

*Instagram Facebook and Meta are banned in Russia as extremist activities.