Russia wants to tie the tax on oil to the price of Brent oil – Kommersant
ALMA-ATA, Feb 3 (Reuters) – Russia is considering a full withdrawal of the Urals crude oil quotation and wants to tie oil taxes to the price of Brent crude oil, taking into account the discount and cost of freight, Kommersant, the newspaper wrote on Friday, citing sources.
According to the newspaper’s sources, the size of the discount and the cost of freight will be “directive”, they will be set by the state.
It is assumed that the government will probably publish the absolute or marginal values of these ratios on a monthly basis, and companies will be required to use them to calculate MET and AIT.
The size of the discount can be limited to USD 10 per barrel, and the cost of freight to USD 5-10 per barrel: at the current price of Brent, such a tax quote for Russian oil would be USD 62-67 per barrel, which is not so far from the budget price of the Urals. (Maria Gordeeva)