Putin approves tax changes to support fuel production

President Vladimir Putin of Russia has signed a law aimed at strengthening gasoline supplies in the domestic market. The law includes amendments to the tax code that allow for blending raw gasoline with other components to produce high-octane fuel, as well as providing subsidies to importers. About 90% of Russian regions are experiencing gasoline shortages or rationing due to attacks on oil refineries by Ukraine. Meanwhile, Russia has prohibited the export of gasoline and jet fuel and is considering imposing export restrictions on diesel. The government is also working to support fuel imports at reasonable prices and to ease technical requirements for producing gasoline and diesel to meet Euro-3 standards until the end of the year.

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