Deputy Prime Minister Alexander Novak, following a meeting on the situation in the Russian oil products market, instructed relevant agencies to prepare a balanced action plan to maintain the stability of the domestic fuel market. This was reported by the government press service on June 22. Vedomosti has learned what initiatives may be included in this plan.

According to two sources familiar with the outcomes of the meeting, the list of measures may include ensuring the import of motor fuel into Russia. At the same time, the Ministry of Finance must adjust the damping mechanism in the fuel market in such a way that the government has the ability to make payments under it when importing petroleum products.

Currently, Russia imports gasoline and diesel fuel from Belarus. In October of last year, the Council of the Eurasian Economic Commission (EEC) zeroed out the import duty on supplies of gasoline, diesel, aviation, and marine fuel until June 30, 2026; previously, the duty rate was 5%. In early June of this year, Russia proposed extending the zero import duty until June 30, 2027.

Another initiative that may be included in the government’s plan, according to Vedomosti sources, is the possibility of producing petroleum products in Russia with characteristics that deviate somewhat from the current technical regulations. Kommersant reported in mid-June that the government allowed certain refineries to produce gasoline and diesel with deviations from technical regulation requirements regarding sulfur content and other quality indicators.

According to one Vedomosti source, implementing these measures may take approximately one month. The plan will also include traditional measures, such as ensuring that oil companies prioritize fuel supplies to the domestic market and maximize their production capacity utilization.

Another aspect could be a temporary reduction—from July 1 to September 30, 2026—of the mandatory exchange sales quota for gasoline from 15% to 10% of production volume. A corresponding draft joint order from the Federal Antimonopoly Service (FAS) and the Ministry of Energy has been posted on the federal portal of regulatory legal acts. The volumes that do not go to the exchange are expected to be directed to agricultural producers and other socially significant consumers, according to one Vedomosti source.

Additionally, during the government meeting, the results of monitoring the domestic fuel market situation regarding pricing were presented. The FAS reported on measures being taken to prevent unjustified price increases for petroleum products and to curb violations of antitrust legislation.

The meeting participants also reviewed the situation with petroleum product supplies to regions and assessed the level of accumulated reserves. Representatives of oil companies reported on measures to saturate the domestic fuel market, maintain a stable pricing environment, increase petroleum product output, and bring new production capacities into operation.

Novak instructed the FAS to continue ongoing fuel price monitoring and, if necessary, to take prompt action.

The fuel market stabilization plan should be prepared taking into account existing regulatory mechanisms, according to the cabinet’s statement.

Paying the dampener on gasoline imports is not about attracting supplies but about keeping domestic prices in check, as the cost of gasoline and diesel on external markets is significantly higher, argues Igor Yushkov, an expert at the Financial University under the Government of the Russian Federation. Otherwise, independent gas stations would see gasoline prices tens of rubles higher, agrees Sergei Kaufman, an analyst at FG Finam.

At the same time, subsidizing imports through the dampener creates a dangerous precedent of financing foreign suppliers and could negatively affect Russian oil refining, believes Dmitry Prokofiev, Director of External Communications at NEFT Research. Lowering environmental standards for fuel production will have a limited impact, Kaufman believes.

Regulators should consider the possibility of centralized fuel purchases from far abroad using reserve fund resources that are set aside in the federal budget for emergency government procurement, believes Sergei Tereshkin, CEO of Open Oil Market. In his opinion, it is also important to maintain the current exchange supply quotas for gasoline, as this improves the assessment of the situation by independent gas stations.

All administrative measures that could help have already been introduced, Kaufman argues; the remaining options are either increasing imports or restoring production by preventing further attacks on refineries.

Vedomosti has sent inquiries to the Ministry of Energy, the Ministry of Finance, and the FAS.

Source: Vedomosti