President of Russia : January 13, 2016, 22:30 2016-01-14 Team of the Official Website of the President of Russia Novo-Ogaryovo, Moscow Region

On July 21, 2015, the President signed an Executive Order to disband the Federal Service for Tariffs and assign its functions to the Federal Antimonopoly Service.

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President of Russia Vladimir Putin: Mr Artemyev, how are you proceeding with your work on tariffs?

Head of Federal Antimonopoly ServiceIgor Artemyev Artemyev IgorHead of the Federal Anti-Monopoly Service : Thank you very much for asking, Mr President.

Six months ago with your Executive Order, you assigned the tariff regulating functions to the Federal Antimonopoly Service. I would like to inform you that the 2015-2016 tariff campaign has been completed. I believe it very important for the Government in general and the Federal Antimonopoly Service that we managed to keep up with the tariff calendar, meaning that all tariffs were set in full in a timely manner.

However, most importantly, I would like to make a brief presentation on the systematic changes in our tariff policy. In the current complicated conditions that the country is living in the tariffs are set in such a way that they are actually much lower than the inflation we had in 2015.

This means that inflation adjustment alone leads to a situation whereby tariffs are targeted at the citizens, the consumers and the entire Russian economy, Russian business, rather than in favour of national champions - public infrastructural companies, that have generally been doing well lately.

To be continued.