Two approaches to formation of Russian crude oil indicators used for tax purposes
UDC: 620.9
DOI: -
Authors:
KATYUKHA P.B.
1,
TSVETAEV YU.V.1,2
1 National University of Oil and Gas "Gubkin University", Moscow, Russia
2 Saint Petersburg International Mercantile Exchange, Moscow, Russia
Keywords: crude oil price index for tax purposes, Urals, the system of registration of OTC transactions, crude oil price indicator
Annotation:
The 2022 EU sanctions against Russian seaborne crude oil and resulting rise in Russian export flows to Asia activated attempts to forming domestic alternatives to overseas crude oil price indicators traditionally used for taxation of Russian oil industry. The work was carried out in two directions using two different approaches to the problem solution. On the one hand, Russian lawmakers fixed a maximum permissible discount to an overseas price indicator. On the other hand, a market approach was applied based on the data on OTC transactions provided by domestic oil companies to the Saint Petersburg International Mercantile Exchange. The authors of the article review both approaches to formation of a Russian own crude oil indicator and progress to date in the field.
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