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

. Last Updated: 07/27/2016

Premier Warns Oil Firms on Gas Prices

Russian oil companies found setting unfair domestic product prices will have their access to export pipelines cut, Prime Minister Sergei Stepashin was quoted as saying Monday by Russian news agencies.

Stepashin, meeting deputies from the State Duma, said he had ordered Interior Minister Vladimir Rushailo to investigate the causes of speculative oil products price rises in the country.

The Duma, parliament's lower house, is due Wednesday to discuss a bill on setting a fixed tax on gasoline filling stations, proposed by the government at the insistence of the International Monetary Fund.

Stepashin proposed freezing oil products prices and railway cargo transport tariffs until the end of 1999 as a way of countering a possible uncontrolled oil products price rise that may result from the passing of the bill.

Last week, Stepashin signed a resolution that made the volumes of oil that companies could export directly dependent on their settling tax arrears.