RUSSIAN PETROLEUM PRICES TO JUMP BY YEAREND '93

Russia's Minister of Fuel and Energy Yuri Shafranik expects the republic's petroleum product prices to more than triple and electricity prices to quadruple by yearend. Ministry officials believe the price hikes will help relieve the negative balance of payments in the fuel and energy sector. The Moscow business weekly Commersant said Russian fuel and energy producers had accumulated 4.7 billion rubles in debts by June, and the figure is rising rapidly.

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