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Meeting Between Novak, Oil Firms Did Not Result in Lift of Oil Products Export Ban

OIL PRODUCTS

Russia’s Deputy Prime Minister Alexander Novak held a meeting with oil producers on Thursday to discuss the domestic fuel market. The government did not lift the ban on oil products exports, as previously expected.

  • "During the meeting, representatives of the Ministry of Energy and the Ministry of Agriculture noted the stabilization of fuel prices in the country and the absence of fuel shortages," the government said, cited by Bloomberg.
  • Reuters reported, the Russian energy and agriculture ministries noted fuel prices are stabilizing in most of the country’s regions, according to a statement on government website. Novak instructed the energy ministry and antitrust watchdog to monitor the situation with prices in some regions.
  • Reuters reported on 9 November, Russian fuel producers have been told by the government that the remaining restrictions on diesel and gasoline exported will be lifted next week, sources said.
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