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Russian Fuel Export Quotas Under Consideration

OIL PRODUCTS

Russia may introduce quotas on fuel exports if the ban does not succeed in bringing down prices according to Deputy Minister Alexander Novak.

  • “If the situation does not change, tough regulatory measures will be taken, comparable to those in place on the fertilizer market," Novak said
  • "As a result of the ban on the export of gasoline and diesel fuel, we saw a decrease in prices on the exchange. We expect a reduction in these prices to be transmitted to the small wholesale and retail segments, as well as to agricultural producers," Novak was quoted as saying.
  • "Price increases are unacceptable. If the situation does not change, strict regulatory measures will be taken, comparable to those in force on the fertilizer market," he added.
  • "Retail price reductions should happen soon," he added.
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