"We have not discussed the issue of creating a state reserve of crude oil," German Gref said.
Alexander Grigoryev, head of the federal agency for state reserves, said the 2007 budget contained no provisions for the purchase of crude oil for the system of state reserves.
Earlier in June, Grigoryev said the country needed to create reserves of crude oil and natural gas to be able to influence the market.
"The state should be able to influence the market with these reserves," Grigoryev said, adding that his agency has already prepared depositories for oil and gas should the idea gain official approval.
He added the state should have oil reserves of at least 5 million metric tons (37.4 million barrels), and that gas reserves should be comparable.
