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Russian Finance Ministry to review oil price alternatives in Q1 2023 — Deputy Minister

"Right now, we rely on Argus prices," Aleksey Sazanov said

MOSCOW, January 16. /TASS/. The Russian Finance Ministry will review oil price alternatives in the first quarter of this year, Deputy Minister Aleksey Sazanov told reporters.

"We will analyze available price alternatives in the first quarter. Right now, we rely on Argus prices. Accordingly, we will look at the price provided by the St. Petersburg Exchange. We will look at its representativeness, liquidity, and then will decide," Sazanov said.

"This is a much broader issue," the official said, commenting on proposals to create an oil price agency in Russia and the statement made by the chief executive of the St. Petersburg International Mercantile Exchange regarding the possibility of solving this issue without such an agency.

"We [the Finance Ministry - TASS] are users of prices. Sectoral agencies and not us should probably decide, from whom we will receive them," Sazanov added.