Russia Delays Refinery Modernization Deadline for Reverse Excise Duty to 2027

The Russian government postponed the modernization deadline for oil refineries under agreements with the Ministry of Energy from July 1, 2026, to July 1, 2027, to qualify for the reverse oil excise duty. This extension signals flexibility in fiscal policy to support domestic refining amid sanctions and market pressures. The move may affect refined product output and export dynamics, but the impact is uncertain pending company responses.