finance
Russia Negotiates Gasoline Imports from Kazakhstan and India to Address Fuel Shortage
Russia is negotiating purchases of gasoline from other countries to address a domestic shortage after Ukrainian drone strikes on energy facilities. Kremlin spokesman Dmitry Peskov said on June 30 that talks are active and imports will proceed at acceptable prices. President Putin put reserves at 1.7 million metric tons, down 4 percent from a year earlier.
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Russia has confirmed it is negotiating to import gasoline from other countries to stabilize its domestic market after weeks of Ukrainian drone attacks on refineries and supply facilities. Kremlin spokesman Dmitry Peskov stated on June 30 that discussions are actively being held, adding that imports will move forward if agreements can be reached at acceptable price points.
ZeroHedge reported that Moscow has been in talks to buy 50,000 metric tons of AI-92 grade gasoline from Kazakhstan, with India also mentioned as a potential source.
President Putin said Russia's total gasoline reserves stand at 1.7 million metric tons, 4 percent lower than the same period last year. He described the country as facing a certain shortage of fuel but stated that the situation is not critical. Deputy Prime Minister Alexander Novak called imports one of the government's key tools for stabilizing the gasoline market.
Russian lawmakers last week approved tax changes that create subsidies to help finance purchases from abroad. A state of emergency was declared in Crimea last week, restricting fuel supplies to military and state entities only. Putin noted that strikes on energy infrastructure create problems for the country.
