Up to $ 8 billion a year: in the Russian Federation came up with how to make an additional oil on the backdrop of embargo

It is noted that from April the Kremlin will switch to the indicator tied to Brent, the international standard of crude oil for calculating taxes on oil export. By reducing market discounts on Russian oil in the Russian Federation, they plan to earn an additional 600 billion rubles ($ 8 billion) of annual income. Financial Times writes that Russian President Vladimir Putin said about the planned reforms for the first time in late February 2023.

According to journalists, changes reflect the growing nebula of the Russian oil market under sanctions and rivalry between the Kremlin and oil companies for potential additional income from sales. The dispute has drawn attention to pricing for Russian oil and whether the international landmarks that the Kremlin use as a basis for taxation, the latest changes in the market. The main Russian export variety of Urals is sold for $ 40.

The barrel is below Brent oil, mainly because the EU has banned import by sea transport. At the same time, according to Financial Times, Russian producers of "black gold" are sold at the highest price. According to customs data, the average price after the embargo on all Russian oil mixtures exported in December was about $ 74. per barrel. It's only $ 10. below the price Brent for the same period and much higher than the top limit of $ 60.

But the price of Urals, which is the main landmark of Russia for tax calculation, was on average only $ 43. the same month. It should be reminded that oil embargo on oil supplies from Russia to the EU came into force on December 5, 2022. The ceiling of prices for Russian oil was set at $ 60 per barrel. It was also reported that a secret fleet out of 600 tankers transports Russian oil worldwide. CNN journalists found out that the Kremlin is using Dubai and Hong Kong's Figure Companies.