[Russia Increases Refinery Subsidies in June to Address Fuel Shortages] According to a report by Golden Finance, on July 3, the Russian government increased subsidies provided to refineries supplying oil to its domestic market in June by more than six times compared to the same period last year. Data released by the Russian Ministry of Finance on Friday showed that 210.6 billion rubles (approximately $2.72 billion) were paid to refineries last month, partially compensating for the price difference between domestic and export markets. This marks the largest monthly subsidy since December 2023, primarily due to high international fuel prices caused by disruptions in the Strait of Hormuz. After Ukrainian attacks on refineries exacerbated nationwide fuel shortages in Russia, strengthening domestic fuel supply has become a key focus for the Russian government. The subsidies incentivize companies to store more petroleum products domestically and offer them to consumers at lower prices.