Putin Calls For More Action To Lower Fuel Prices

Reuters carrying comments from Russian President Vladimir Putin and Deputy Prime Minister Alexander Novak on the implementation of last week's temporary ban on fuel exports.

• Putin: "Oil prices are rising, companies seek to maximize profit by sending fuel for exports... retail gasoline prices are still rising."
• Putin tells Novak: "You have to react more swiftly... Consumers and agri producers need the results. We hope that the proposed measures will work, you have to work closely with oil producers."
• Russia announced on September 21 it had temporarily banned the export of gasoline and diesel (exempting Eurasian Customs Union countries) to counter domestic shortages.
• Bloomberg reported on Tuesday, Russia amended the ban to exclude, "bunker fuel, gasoils and some middle distillates" but amendments, "keep unchanged the key restrictions that ban exports of most gasoline and diesel."
• Reuters reported this week: "The diesel ban will have the biggest impact because Russia is the world's top seaborne exporter of the fuel, just ahead of the United States."