Russia paid 210.6 billion rubles ($2.72bn) in June subsidies to refineries
supplying the domestic market — more than sixfold YoY — to partly offset the gap
between domestic and export fuel prices, the finance ministry said Friday. It
was the largest single-month subsidy since Dec 2023, mainly driven by elevated
international fuel prices after disruptions in the Strait of Hormuz and by
Ukrainian attacks on refineries that worsened nationwide shortages. The measures
aim to boost domestic fuel inventories by incentivizing firms to store more oil
products domestically and sell to consumers at lower prices.
