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Putin Urges Govt to Stabilize Coal Prices, Kazakhstan Situation Remains Tense

RUSSIA

LOCAL NEWS

  • Putin says Government should prepare measures to stabilize coal prices by August through uninterrupted supply and concluding direct contracts with licensed companies for production and processing "as a matter of priority."
  • Kazakh govt introduces 180-day moratorium on increasing utility rates (heating, gas, power and water supply) as well as prohibiting the export of cattle for 6-months to stabilize prices of meat and vegetables.
  • Overnight more reports of gun battles emerged in the vicinity of Republic square. Military demanded the streets be cleared and citizens received SMS reminders of curfew.
    • Trade ministry assured there were sufficient food stocks, but many retail stores are closed in key centres due to looting. Russian Defense Committee Chair said militants with experience in Syria, Iraq & Afghanistan are responsible for violent unrest
  • Russia’s Yamal-Europe gas pipeline stays in reverse for 18th day leaving Western Europe to rely on inventories.
    • Gazprom says this is because it has no requests from Germany and France. NatGas prices have surged back above $100 cubic meter
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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