Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

LPG Duty Criticized

MOSCOW -- A sharp export tariff hike on liquefied gases has not done enough to keep supplies on the domestic market and further measures will have to be taken, Prime Minister Vladimir Putin said Wednesday.

Putin told the State Duma that this month's tariff increase, from 5 percent of the customs value of liquefied gases to 60 euros ($61.33) per metric ton, had not been popular with foreign buyers of Russian liquefied petroleum gas.

"It led to a definite negative reaction from our partners abroad, many, especially in the Commonwealth of Independent States, were disturbed by this, but unfortunately, we had no other choice," he said.

"But this has also turned out to be not enough," he added, saying Russia would have to consider "administrative" measures to keep supplies in Russia. He did not specify any measures.