Russia to Develop Plan for Domestic Fuel Market Stability
Quick Look
- Russian Deputy Prime Minister Alexander Novak has ordered agencies to create a plan to stabilize the domestic fuel market, considering current regulations.
- The Federal Antimonopoly Service will monitor prices and take action against unjustified increases.
AI-generated summary
Why It Matters
Russian Deputy Prime Minister Alexander Novak has instructed relevant agencies to prepare a balanced action plan to maintain the stability of the domestic fuel market.
MOSCOW, June 22. /TASS/. Russian Deputy Prime Minister Alexander Novak has instructed relevant agencies to prepare a balanced action plan to maintain the stability of the domestic fuel market, taking into account existing regulatory mechanisms, the government said following a meeting on the fuel market.
"Alexander Novak instructed relevant agencies to ensure the preparation of a balanced action plan aimed at maintaining the stability of the domestic fuel market, taking into account the existing regulatory mechanisms," the statement said.
The Federal Antimonopoly Service (FAS) was tasked with continuing constant monitoring of the pricing situation in the sector and, if necessary, promptly taking appropriate measures.
During the meeting, the agency reported on measures being taken to prevent unjustified increases in petroleum product prices and to curb violations of antimonopoly legislation.
Participants in the meeting also reviewed the situation with petroleum product supplies to the regions and assessed the level of accumulated reserves. The statement noted that the situation on the fuel market is being monitored on a continuously.
Open Questions
- What specific measures will be included in the action plan?
- What triggers will prompt FAS intervention?
