Reduction of oil refining by Russian companies: news by the morning of April 19

Russian oil companies continue to reduce oil refining due to difficulties with product exports, and the Russian Finance Ministry issued state loans to foreign countries for Rb 81.6bn in March. – these and other important news for Tuesday morning, April 19, in our daily review.

Russian oil companies continue to reduce oil refining due to difficulties in exporting products amid EU and US sanctions, Kommersant writes. In the first half of April, the average daily refining volume decreased by 6%. Problems with sales of oil and oil products may worsen in May due to a reduction in purchases by major international traders.

In March, the Russian Ministry of Finance issued state loans to foreign countries for Rb 81.6bn. The indicator is close to the record of December 2021 – 82.1 billion rubles. The data of the Federal Treasury quotes RBC. In January and February, Russia issued state loans for a total of 28.5 billion rubles, in March 2021 – 26.2 billion rubles.

French President Emmanuel Macron said he would push forward with sanctions on Russian gas supplies. According to him, France does not depend on them. “Europe depends on Russian gas, but France does not need it,” Macron told France 5 TV channel. He noted that the country is working on gas purchases from other countries.

Rusagro Group (MCX:AGRODR) may buy out the Russian business of Finland’s Valio, a producer of dairy products, including processed cheese under the Oltermanni and Viola brands, Kommersant writes, citing sources in investment circles and agricultural holdings. Rusagro and Valio did not provide comments to the newspaper.

The next stage of US sanctions against Russia will be restrictions on its defense-industrial complex and its supply chains, US Deputy Treasury Secretary Wally Adeyemo said, speaking at the Peterson Institute for International Economics. He said Russia and its key banks are now subject to strict financial sanctions, and the next phase of sanctions “will be to take Russia’s military machine apart piece by piece, including restrictions on the military-industrial complex and its supply chains.”


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