Putin Signs Tax Amendments Aiming to Boost Domestic Fuel Supply
(Bloomberg) -- Russian President Vladimir Putin signed a law to stimulate gasoline supplies to the domestic market.
The law introducing amendments to the Tax Code permits the blending of straight-run gasoline with other components to produce high-octane motor fuel, RBC reported on Saturday. Amendments also aim to stimulate gasoline imports to Russia by providing subsidies to importers.
About 90% of Russia’s regions have faced gasoline-supply issues or other forms of fuel rationing followed a series of Ukrainian attacks on refineries, in many cases deep within Russia, and authorities are taking extraordinary measures to overcome the crisis.
Russia has banned gasoline and jet fuel exports and is considering possible restrictions on diesel exports as well. The Kremlin said on June 30 that Russia is discussing fuel imports at an acceptable price. Also, according to media reports, the government has relaxed certain technical requirements, allowing some refineries to produce Euro-3 gasoline and diesel until the end of 2026.
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