Legislative Cap on Urals Oil Price Discount to Brent Oil

Законодательное ограничение размера скидки цены на нефть марки Urals к марке Brent

Andrey S. Kaukin and Eugenia M. Miller
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Andrey S. Kaukin: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Eugenia M. Miller: Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2023, issue 4, 57-60

Abstract: The approved tax code amendments will cap a discount on Urals oil price to North Sea Dated for the calculation of oil taxes. By our estimates, amendments may bring an additional of around Rb640bn into the budget in 2023. However, the mechanism incorporated in the amendments entails the risk of a «manual» regulation of taxation parameters in the oil industry in case of a dramatic change in prices for oil on the global market.

Keywords: Urals crude oil; Brent crude oil; Tax Code of the Russian Federation (search for similar items in EconPapers)
JEL-codes: H24 L71 Q41 (search for similar items in EconPapers)
Date: 2023
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