The eighth edition of the BRICS International Competition Conference, a biannual event, was held from October 11 to 13, with India playing the host after a gap of 10 years. The BRICS grouping comprises Brazil, Russia, India, China and South Africa. The next conference of the BRICS competition authorities will be hosted by South Africa in 2025.
The Russian government has lifted a ban on pipeline diesel exports via ports, although restrictions on gasoline exports remain in place. Diesel is Russia s largest oil product export, and the lifting of restrictions is expected to ease global prices and provide alternative sources of gasoline and diesel. The ban had resulted in shortages and high fuel prices, particularly affecting farmers during the harvesting season. Wholesale diesel prices have fallen by 21% since the ban, although retail prices have not yet seen the same decline. The government has also increased fuel export duty and reinstated subsidies for oil refineries.
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Europe News: Diesel is Russia's biggest oil product export, at about 35 million tonnes last year, of which almost three-quarters were shipped via pipelines. Russia