Sechin Proposes Measures to Stabilize Fuel Market

Rosneft Chief Executive Officer Igor Sechin has submitted proposals to Russian President Vladimir Putin aimed at stabilizing the domestic fuel market amid damage to refineries and tightening fuel supply. The proposals include temporarily suspending mandatory exchange sales requirements until refinery capacities are restored, granting end consumers priority access to fuel exchange trading, and requiring producers to sell all fuel meeting Euro-3 specifications through the exchange. Sechin also proposed obliging oil companies to process at least 30% of their crude production domestically and introducing a mechanism to ensure the profitability of fuel imports.