Russia plans to cut $377 million a month in refining subsidies

Published: Apr 28, 2023 22:36

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Russian Finance Minister Siluanov said that the Russian Finance Ministry plans to halve subsidies to refiners from July 2023. Payments to refineries from the budget will be cut by 30 billion rubles ($377 million) a month.

In other news, Russian President Vladimir Putin recently signed a decree allowing the supply of oil and oil products in accordance with agreements reached with friendly countries before February 1, without being restricted by the Russian presidential decree that responded to the Western price limit on Russian oil at the end of last year.

Macro economy Import/Export

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