IN BRIEF: Key statements by Deputy PM Novak on Russia’s fuel market situation

IN BRIEF: Key statements by Deputy PM Novak on Russia’s fuel market situation According to Alexander Novak, the situation on the domestic fuel market is not easy, "given summer peak demand and unscheduled oil refinery maintenance"Russian Deputy Prime Minister Alexander Novak© Grigory Sysoyev/POOL/TASSMOSCOW, July 7. /TASS/. Russia’s fuel market situation remains tough, given summer peak demand and unscheduled oil refinery repairs, Deputy Prime Minister Alexander Novak at a meeting at the government's situation center. Novak instructed relevant agencies, regional authorities, and industry companies to promptly take all possible measures to prevent localized disruptions in fuel supplies, the Cabinet of Ministers reported following the meeting. TASS has compiled the main facts that are known so far. Fuel market situation - The situation on the domestic fuel market is not easy, "given summer peak demand and unscheduled oil refinery maintenance," Novak stated. He emphasized that the stable operation of the domestic fuel market and the uninterrupted supply of fuel to all regions remain an absolute priority. Measures - Novak instructed relevant departments, regional authorities, and industry companies to promptly take all possible measures to prevent localized disruptions in fuel supplies, the Cabinet of Ministers reported following a meeting on the fuel market. - Particular attention was paid to the situation in the Irkutsk Region and the Trans-Baikal territory, where the fuel supply situation was not without its problems. - Regional leaders reported on current inventory levels, logistics, gas station operations, and emergency fuel supplies. - The meeting participants also analyzed the situation with fuel supply in southern Russia during periods of increased seasonal demand. - At the meeting, the Energy Ministry reported on the fuel supply situation in the regions, the current level of petroleum product inventories, and the functioning of infrastructure. - The Agriculture Ministry presented information on fuel supplies for the needs of the agro-industrial complex, while the Federal Antimonopoly Service (FAS) reported on pricing controls and measures to respond to potential violations. The government is considering additional measures to saturate the domestic petroleum product market, Novak said. - Russian President Vladimir Putin will hold a videoconference with the government on July 8. The main topic of discussion will be the operation of the transport and fuel industries under current conditions, the Kremlin press service reported. - Novak previously instructed the Energy Ministry and oil companies to prepare specific measures to stabilize the fuel supply in a number of the most vulnerable regions of the country, as well as to ensure additional fuel supplies to other regions. Statements on the fuel market - Earlier, Novak told TASS that Russia had accumulated sufficient fuel reserves to supply the domestic market, but panic buying had led to a 20-30% increase in demand. - He added that restructuring the system's logistics to meet these needs would take some time. - Novak also stated that a short-term ban on diesel exports for producers, lasting for a few months, could be imposed to replenish domestic supplies. - Russian President Vladimir Putin said that the authorities, together with oil companies, had prepared additional proposals to ensure domestic fuel supplies. He noted that Russia had begun using its fuel reserves, but gasoline reserves in the country were virtually unchanged from last year's levels. The head of state also announced that the need to introduce a complete ban on diesel fuel exports was being considered. 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