Russia's subsidies to persuade oil producers to prioritize domestic road-fuel supply rose to 415 billion rubles ($5.1bn) in October, the highest monthly level since April 2022 (450 billion rubles), the finance ministry said. The support, designed to offset the appeal of exports, has climbed from tens of billions in January to several hundred billion rubles as this year's conflict involving Iran pushed up global crude and product prices. Most payments go to major refiners including Rosneft and Ta

Russia's subsidies to persuade oil producers to prioritize domestic road-fuel supply rose to 415 billion rubles ($5.1bn) in October, the highest monthly level since April 2022 (450 billion rubles), the finance ministry said. The support, designed to offset the appeal of exports, has climbed from tens of billions in January to several hundred billion rubles as this year's conflict involving Iran pushed up global crude and product prices. Most payments go to major refiners including Rosneft and Tatneft, cushioning cashflows as firms repair refineries damaged by Ukrainian drone strikes. The government has kept bans on most diesel, gasoline and jet-fuel exports while maintaining the subsidy, further eroding Kremlin energy revenue.