No Payback for Russian Refiners

摘要

Oil companies in Russia seeking compensation for the government’s price freeze on domestic oil products in January and February -- ahead of the Mar. 4 presidential election -- may be disappointed. Russian business daily RBC reported that three Russian ministries -- energy, finance and economic development -- do not want to reimburse oil companies for agreeing to keep fuel prices low ahead of the election earlier this week, which was won by Russian Prime Minister Vladimir Putin (IOD Mar.6’12). Moscow had discussed compensating the companies by lowering export duties on diesel and fuel oil.