OREANDA-NEWS. Russian President Vladimir Putin ordered to examine the possibility of hedging the country’s oil and gas revenues to protect them from falling prices, but there is no exact time frame for making a decision. This was reported by Dmitry Peskov, a press secretary of the head of state.

Earlier, Bloomberg agency, citing a high-ranked source, wrote that Russian authorities returned to considering hedging oil and gas revenues to protect the country from falling prices. At the same time, two sources in the government informed that the Ministry of Finance is against the idea. It is noted that Mexico has been using a similar mechanism for many years, buying put options from a group of investment banks and oil companies.

“Indeed, various hedging mechanisms, the practice, which some countries use in terms of hedging risks for an unstable price environment, are being discussed in the relevant departments,” Peskov explained. The presidential spokesman also said that there is no understanding yet with which banks an agreement can be concluded if this mechanism is adopted.