Russia's FAS suspends use of stock market indices in govt fuel procurement until end of year

Russia's Federal Anti-monopoly Service (FAS) has suspended FAS Order No. 894/24 of November 22, 2024, until December 31, 2026, the FAS posted on the portal of public legal information.

Consequently, the FAS has suspended the use of exchange-traded and over-the-counter indices for fuel procurement for government needs until the end of the year.

As reported, a seasonal surge in fuel consumption has coincided with a series of unscheduled maintenance work at refineries in Russia in 2026, with restrictions on sales volumes at filling stations consequently being implemented in various regions.

The government has amended the trading of petroleum products on the SPIMEX owing to the problems on the fuel market, namely limiting price increases for all types of petroleum products, as well as modifying the trading system, to ensure that exchange-sold fuel volumes go directly to end consumers, eliminating intermediaries.