Russia Finalizes Fuel Agreements with Most Oil Companies

ST. PETERSBURG, June 4. /TASS/. Russian authorities have already signed fuel agreements with most oil companies, while terms with the remaining firms are still being finalized, Russian Deputy Prime Minister Alexander Novak told TASS at the St. Petersburg International Economic Forum.

"Most have already been signed. Some companies remain in the process of final coordination," Novak said, adding that the agreements will remain in force until the end of the year.

Earlier, the Russian government approved a resolution under which the Energy Ministry and the Federal Antimonopoly Service will conclude agreements with oil companies on stabilizing and developing the domestic petroleum products market. The document entered into force upon publication. The agreements will regulate volumes of motor fuel supplies to the domestic market and retail prices for gasoline and diesel fuel, taking into account the expected inflation rate.

The 29th St. Petersburg International Economic Forum (SPIEF-2026) is taking place on June 3-6. This year, the event is held under the theme "Pragmatic Dialogue: The Path to a Stable Future." Saudi Arabia is the guest country at SPIEF. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.