MOSCOW, November 5. /TASS/. Payments from the Russian budget to oil companies as part of the fuel damper mechanism amounted to 106.6 billion rubles ($1.09 bln) in October, according to the Finance Ministry files.

In September, payments amounted to 145.7 billion rubles ($1.5 bln), and in October of last year, no payments were made.

Oil companies receive payments under the damper mechanism if they supply fuel to the Russian market at a price no higher than a certain level, the so-called cut-off point. Throughout September 2023, the price of fuel on the exchange was significantly above this level. At the same time, an adjustment to the mechanism was introduced in September, which, in fact, reduced payments under the fuel damper by 50%. Since October 2023, the previous procedure for calculating payments under the damper mechanism to oil companies has been in effect in Russia again. Amid a significant increase in exchange prices for fuel, the Russian authorities decided to bring the coefficient to its original state.