The Russian government is ready to take tough measures to keep a lid on domestic fuel prices, Deputy Prime Minister Alexander Novak said. This includes stopping exports of petrochemicals if the situation gets worse, he warned. The official clarified that the potential ban would impact traders, not the country’s crude producers. “We expect the market to improve in the near future,” the former energy minister said, highlighting the current downward trend in exchange prices. Novak urged oil companies to assist with making the domestic oil market stable, adding that a steady increase in petroleum supply would help.
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