OREANDA-NEWS. December 11, 2008. Eight Russian regions, including Arkhangelsk and Murmansk Oblast and Republic of Karelia, will get a total of 2,4 billion RUB in financial support from the federal budget to cover expenses for fuel oil.

According to MBnews, this decision was made at a government session today, where equalization of the federal regions’ fiscal capacity through distribution of grants was discussed. In total, the grants amount to over 19 billions RUB.

The rising prices of oil in the last years have had a big impact on Russian oil consuming regions, especially in the North. The development of the Shtokman field is seen as a future opportunity to change from oil to gas as the main fuel for domestic and industrial use.