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Russia Mechanism for Fertilizers Could Be Used for Fuel Exports: Putin

OIL PRODUCTS

Mechanisms akin to those used to regulate fertilizer exports could be applied to manage the situation on the domestic market for petroleum products, Russian President Vladimir Putin said told government members.

  • "We do have experience in other industries, for example, with fertilizers. Having indeed supplied the required volume to the domestic market, and then earn on the external market. Well, it works. It is clear that there are specifics here in the oil industry; nevertheless, there is no big difference, one just needs to take the decisions in a timely manner, that is all," Putin said.
  • Russia currently has export duties of around 23% of the price above $450/mt on mineral fertilizers.
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