Putin simplified subsidy rules for oil refineries amid industry attacks – Bloomberg

Russian dictator Vladimir Putin has relaxed state support rules for oil refineries, allowing them to receive subsidies even at high market prices for gasoline and diesel fuel. This is reported by Bloomberg, writes UNN.

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According to the decree, which came into force on October 1 and will be valid until May 1, 2026, plants can receive state aid even when wholesale prices exceed the thresholds. The goal of the changes is to encourage producers to continue supplying fuel to the domestic market, even when it is more profitable to export it.

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According to Bloomberg, previously the government paid subsidies only if wholesale gasoline prices did not exceed 10% of the threshold, and diesel prices did not exceed 20%. The new rules raise these limits to 20% and 30% respectively.

This year, subsidy payments have significantly decreased - to 716 billion rubles in the first nine months, compared to 1.8 trillion last year.

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The reason was the intensification of Ukrainian attacks on the Russian oil industry: strikes on plants reduced the pace of oil refining, provoked a fuel crisis and rising prices within the country.

Russian Deputy Prime Minister Alexander Novak previously noted that state payments would be increased due to rising fuel prices to support the domestic market and stabilize the situation.

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