"Paying the duty and then carrying on with business, from an economic point of view, is possible only for very high-margin products," an official noted.

The St. Petersburg International Economic Forum will be held on June 5-8, 2024.

Russia’s international reserves are highly liquid foreign assets available with the Bank of Russia and the Russian government.

Steel production by Russia, Ukraine and other CIS countries totaled 7.4 mln tons in April, which is 3.5% lower than in the same period last year.

Meanwhile, in April the market gained 8% in annual terms to 574,000 TEU. Container shipments via the port of St. Petersburg remain the main growth factor, the transport group noted.

Russia is still the largest oil supplier to the People’s Republic of China followed by Saudi Arabia and Iraq.

"As long as the world is unipolar, this world will be extremely unstable, this world will continually generate threats," Konstantin Kosachev said.

Oil and gas revenues were at a level exceeding their base amount, and in accordance with parameters of the social and economic development outlook a stable excess of oil and gas revenues over their base amount is also expected in coming months, the ministry noted.

In comparison with the previous quarter, when 66 mln kilograms were produced, the production of ice cream for January-March 2024 increased by 66%.

The Russian gasoline market is oversaturated at the moment, acting deputy prime minister Alexander Novak said.