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. Last Updated: 07/27/2016

Energy Policy

Among all other sectors in the national economy, the role played by the fuel and energy complex in Russia's gross national product continues to dominate. Therefore, the effect the presidential election has on the country's energy policy is vitally important for the economy as a whole. ...

In the past few years, the basic parameters of Russia's macroeconomic policy have been set by the International Monetary Fund, the strategy of which is restricted to holding back inflation with a strict monetary policy. But getting out of the industrial crisis is not considered in the IMF's requirements on Russian economic policy, and a three-year IMF credit of $10.2 million comes on the condition that the government increase the transport tariff and excise tax on sales of oil and gas.

The Russian government is left with a complex dilemma: It must decide whether to soften the effects of the financial crisis with the help of IMF credits, thus sacrificing progress in the fuel and energy sector, or boost competition in the fuel and energy complex and lose the credits. In the last months before the election, the government has been able to avoid this problem. It has exercised a condescending attitude toward the IMF and Russian energy policy in the campaign. However, once the election is over, the problem will have to be confronted ...