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Russian Finance Ministry suggests not using Urals prices in Europe

"We are ready for a systemic solution but then we should drop Northwestern European prices for the damper and for the calculation of oil taxes and change to certain other prices," Aleksey Sazanov added

MOSCOW, July 13. /TASS/. The Russian Finance Ministry is considering an option of not using Urals prices calculated by the Argus agency in European ports in taxation of the oil sector and when computing the fuel price dampening mechanism, Deputy Minister Aleksey Sazanov told reporters.

Urals prices in European ports are currently used to compute oil taxes and for price dampening, the official said. "Therefore, when talking about a transition to other prices, the damper calculation should also be mentioned. We cannot leave non-representative European prices in the damper calculation and abandon them when computing oil," Sazanov said. "We are ready for a systemic solution but then we should drop Northwestern European prices for the damper and for the calculation of oil taxes and change to certain other prices. We are ready to consider that," he noted.

The Finance Ministry is currently waiting for proposals from the Energy Ministry about prices to be in calculations, Sazanov added.

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