Russian President Vladimir Putin has ordered the government to provide state funds to ensure a smooth heating season, including the introduction of regulated prices for fuel oil supplied for household heating in some regions, the Kremlin said on Thursday.
Russia has been tackling shortages and high fuel prices in recent month. Fuel oil is in high demand for the Arctic and other regions, which are facing a severe winter.
Despite being one of the world's top oil producers, Russia has suffered high domestic prices and shortages of gasoline and diesel in recent months as high export prices made it advantageous for refiners to sell their products abroad.on fuel exports to fight high gasoline and diesel prices as well as fuel shortages during harvesting season. There is no time frame for the restrictions to be lifted.
Dmitry Peskov, the Kremlin spokesman, also told reporters that other measures to ensure the stability of the fuel market would be considered once the ban was lifted. The government has been considering hiking of export duty for resellers and introduction of export quotas, similar to the measures on the sales of fertilizers.Since the ban was introduced, wholesale diesel prices on the local exchange have fallen by 21%, while gasoline prices are down 10%.
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Giuliani Sues Biden For Defamation After President Called Him A ‘Russian Pawn’I am a New York-based senior reporter covering breaking news at Forbes. I previously covered politics and news for Vanity Fair and Mic, and as a theater critic I serve as a member of the New York Outer Critics Circle. Follow me on Twitter alisond64 or get in touch at adurkeeforbes.com.
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