The head of the Russian Ministry of Energy, Nikolay Shulginov, signed an order that establishes the procedure for monitoring prices for Russian oil supplied for export. The corresponding document comes into force on March 4.
As specified, control will be introduced in relation to the cost of export oil of the Urals brand, supplied to ships from the ports of Novorossiysk, Ust-Luga, Primorsk, and for oil “Eastern Siberia – Pacific Ocean ESPO (ESPO)” from Kozmino. Data for monitoring the prices of black gold is planned to be taken from the database of the St. Petersburg Commodity and Raw Materials Exchange. Information from the Argus agency and the Federal Customs Service (FCS) will also be used. According to Shulginov, the new procedure for monitoring prices for export oil will allow tracking the real cost of its sales.
“The new procedure for monitoring oil prices will allow tracking the real cost of selling Russian oil in order to sell our resources at reduced prices due to the introduced “ceiling” by unfriendly states. In addition, the updated procedure for monitoring export prices will become a convenient mechanism for taxing the oil industry “, — leads press service of the Ministry of Energy Shulginov’s words.
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