All news

Russian budget’s oil and gas revenues to be calculated based on FOB Urals prices

"Revenues for the next three years are planned without taking into account the Brent and St. Petersburg exchange quotations," Alexey Sazanov said

MOSCOW, October 18. /TASS/. From next year, oil taxes in Russia will not be calculated on the basis of the SPIMEX index and the Brent price, taking into account the discount, Deputy Finance Minister Alexey Sazanov told reporters on the sidelines of the Moscow Financial Forum.

According to him, the Urals FOB quotations will be taken into account when calculating revenues, increased by $2.

"Revenues for the next three years are planned without taking into account the Brent and St. Petersburg exchange quotations. It will be calculated as it is now - Urals FOB," he said.

Currently, Russia uses the maximum available oil price when calculating oil taxes, choosing from the following options: a discount to Brent or a price in Russian ports increased by the cost of transportation to Europe.