The Russian government has extended the reduced 10% mandatory gasoline exchange sales quota until December 31, 2026 (the current reduced quota for gasoline is valid until September 30). The corresponding decree has been signed, the Cabinet's press service reported.
Additionally, the new document allows, when fulfilling the exchange sales quota for gasoline and diesel, to take into account volumes sold through targeted exchange transactions and over-the-counter supply contracts, where the end buyers are agricultural producers, organizations ensuring northern delivery (delivery of food and goods to remote areas of the Far North), as well as construction organizations and Russian Railways.
"The decision was made to maintain a stable situation on the domestic fuel market and to ensure gasoline and diesel for strategically important categories of consumers," the press release states.
As the Ministry of Energy explains, under the current 10% quota for gasoline sales, up to 8% of the volume can be offset through confirmed targeted supplies, while at least 2% remains as a mandatory volume of free sales on exchange trading. For diesel fuel, with a quota of 16%, up to 13% can be fulfilled through targeted supplies, and at least 3% is still subject to mandatory sale on open exchange trading.
Lists of consumers will be formed by authorized federal executive bodies, the ministry clarifies. Control over the application of the mechanism will be carried out within the framework of the existing system of interdepartmental interaction with the participation of relevant federal executive bodies, the Federal Antimonopoly Service, the Federal Tax Service, and the St. Petersburg International Mercantile Exchange.
"The proposed changes are aimed at increasing the stability of the domestic petroleum products market. The mechanism will minimize the impact of short-term speculative factors on pricing, reduce the risks of sharp price fluctuations, and ensure more stable supply conditions for socially significant categories of consumers and other participants in the domestic market," said Energy Minister Sergey Tsivilev.