Antitrust, Energy Ministry may lift oil products imports ban early

MOSCOW, Jul 16 (PRIME) -- The Federal Antimonopoly Service and the Energy Ministry have sent to the government a proposal on lifting the ban on imports of oil products to Russia early, the authorities said in a joint statement on Thursday.

“The authorities have agreed on a joint position that the ban on imports of oil products to Russia may be lifted, because demand for motor fuel has recovered to the level that was registered before imposition of coronavirus-related restrictive measures. A corresponding proposal has been sent to the government,” the statement read.

On May 25, the government introduced a temporary ban on imports of gasoline, diesel fuel, jet fuel, and other oil products to Russia until October 1 to ensure the energy security and stabilization of the situation on the domestic fuel market.

The Federal Antimonopoly Service and the Energy Ministry also agreed to increase the minimal requirement for sales through commodity exchanges to 11% of gasoline and 7.5% of diesel fuel, and to introduce responsibility for infringement of the requirement.

“The measures will make (the local market) more resilient amid higher demand for oil products, will ensure discipline on the fuel market and prevent heavy volatility,” the statement quoted Energy Minister Alexander Novak as saying.

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