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Russia's payments to oil refiners in May were close to their highest level in more than 2 years, reducing the country's oil and gas revenues even though the war in Iran helped drive up oil prices.
Source: Bloomberg
Details: Last month, the government paid oil refiners US$2.8 billion. This was almost 5 times more than a year earlier.
These payments partly compensate refineries for the difference between motor fuel prices in Russia and abroad. They rose sharply after a rally on global markets caused by the war in Iran.
