Russia will not halt crude exports

Russia will not halt crude exports

Editorial Staff
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Just days after the failure to reach an agreement at the Doha summit to freeze oil production to help oil prices go back up, Prime Minister of Russia Dmitrij Medvedev has stated that Russia must continue to export petroleum products

Russia intends to carry on exporting petroleum products at full capacity, according to a statement by Prime Minister Dmitrij Medvedev at the State Duma, the lower house of Russia’s legislature. He appeared before the body to report on the government’s actions during the year 2015, particularly in dealing with the economic crisis the country is currently going through. "The price structure of oil products, gasoline and diesel is quite complex and also involves a fiscal component, not just the revenue of oil companies," stated Medvedev, who stressed that, with inflation of the ruble, the price of petroleum products is rising, and correcting this process is no easy task. "But that is what we are trying to do,‘ said the Prime Minister, adding, "In terms of US dollars, one must consider that we have the lowest prices among developed countries."