Russia ready to raise domestic oil prices to global levels
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MOSCOW. Dec 13 (Interfax) – Russia may soon raise domestic oil prices to global levels, Yegor Gaidar, a deputy prime minister of the Russian Soviet Federative Socialist Republic, said.
The government has settled on a five-fold increase of the oil price, or 6.5-fold including VAT, only taking into account the inevitable inflationary consequences of this move, Gaidar told journalists.
Raising the crude price from 70 to 350 rubles is "just the first step and further on the prices should be brought into line with global ones very quickly," he said.