The diesel fuel supply agreement with the United States will boost the Russian economy by increasing oil processing, production and tax revenues. This was stated by Russian Deputy Prime Minister Alexander Novak on the sidelines of the international forum “Russian Energy Week“ in Moscow, TASS reported, quoted by Focus.
According to him, the agreement between Washington and Moscow is not just a trade agreement, but also provides for a specific program to expand the capacity of Russian oil refineries.
“This is a positive signal for our economy as a whole, associated with increased refining volumes at oil refineries, increased production, additional taxes for the budget and the possibility of budgeting social expenses. These are also investment opportunities“, Novak told journalists.
The diesel fuel agreement is part of a broader temporary easing of sanctions by the US, which allows Moscow to increase exports of petroleum products to international markets.
During the forum, Novak indicated that the proceeds from these exports will be directed to infrastructure investments in the energy sector and financing social programs.
The international forum “Russian Energy Week“ takes place in Moscow from October 14 to 16.