The Ministry of Energy of the Russian Federation approved the procedure for monitoring the prices of Russian oil supplied for export. It has been reported TASS.
It is stated that the relevant decree was signed by Energy Minister Nikolai Shulginov on February 28. The document will enter into force on March 4.
The order includes monthly monitoring of the price of Ural oil from the ports of Novorossiysk, Ust-Luga, Primorsk and ESPO oil from Kozmino under FOB delivery conditions. Prices from the Department of Energy St. Petersburg Commodity and Raw Materials Exchange, the Argus agency and the Federal Customs Service.
At the end of January, the Russian government opened to the public Statements on the implementation of the President of the Russian Federation Vladimir Putin’s decree banning the supply of Russian oil under contracts that include compliance with the relevant ceiling price.
In accordance with the decree signed by the Prime Minister of the Russian Federation Mikhail Mishustin, the energy and finance ministries of Russia had to determine the procedure for monitoring the prices of oil supplied for export by 1 March. It was noted that exporting companies should inform the Ministry of Energy about contracts and prices every month and provide the final buyer with data on monitoring the non-use of the price fixing mechanism.