Lower Refi ning Subsidies Could Lift Russia's Exports

摘要

Russian refi ning economics could take a hit from the loss of a crucial subsidy this month, prompting oil producers to ship more crude toother countries at a time when Russia has pledged to lower its exports. Analysts calculate that domestic prices for diesel fuel came close to the level at which subsidies would be cut off this past week. Whatever happens in August, payments under the so-called "buffer mechanism" will be reduced by 50% from September under recenttax changes signed into law by President Vladimir Putin.