The government included the Brent quote in the monitoring of Urals prices and the formula for calculating export duties
[ad_1]
Russian Government included the North Sea Dated quotation in the Urals price monitoring and the formula for calculating export customs duties. Now, when monitoring Urals prices, not only its cost in the Mediterranean and Rotterdam ports, but also the price of North Sea Dated in the North Sea market are taken into account. The Decree of May 25 comes into force from the day of its official publication.
North Sea Dated quotation Argus based on the price of five North Sea grades of oil, including Brent.
To calculate the export duty during the monitoring period from April 15 to May 14, 2023, the price of Urals at a level of at least Brent minus $28 per barrel ($204.4 per ton) will be used, during the monitoring period from May 15 to June 14, 2023 – at least Brent minus $25 ($182.5 per ton).
In December 2022, the G7 countries, the EU and Australia introduced a cap on Russian oil prices at $60 per barrel. In April, President Vladimir Putin signed the law on the calculation of export duties on Urals, taking into account the cost of Brent.
Read more in the publication “Kommersant” “Urals buyers pounced on the discount”.
[ad_2]
Source link
