MOSCOW, October 4 Oil workers supported the proposals prepared by the Ministry of Energy and the Ministry of Finance to introduce protective duties for certain categories of fuel exporters, the Russian government reported.
“The meeting participants supported the measures prepared by the Ministry of Energy and the Ministry of Finance to stabilize the domestic fuel market by introducing protective duties for certain categories of exporters. Such measures will preserve exports only for bona fide producers and will close opportunities for gray exports,” the Cabinet of Ministers said following a meeting of Deputy Prime Minister Alexander Novak with management of oil companies, the Ministry of Energy, FAS and representatives of relevant State Duma committees.
During the meeting, Novak noted that the government continues to formulate systemic measures to bring the fuel market into balance, the message adds.
The Russian government has introduced a ban on the export of gasoline and diesel fuel since September 21. The Ministry of Energy of the Russian Federation expects that the restrictions being introduced will make it possible to stop the “gray” export of motor fuel and saturate the domestic market. They also plan that the measure could lead to an additional reduction in prices. The press service of the ministry reported at the end of September that expectations of a quick lifting of the ban were futile.
Earlier, Novak, during a meeting with Russian President Vladimir Putin, said that in order to long-term balance the Russian fuel market, the government plans to take a number of additional measures. Among them are adjusting the parameters of the fuel damper and limiting gray exports: either through increasing the protective duty for fuel resellers, or through a complete ban on the export of petroleum products purchased on the domestic market, and not produced.