ANNOUNCEMENT 26 Sep 2014In September 2014, the government of the Russian Federation announced a change in export taxation.
NUMBER OF INTERVENTIONS
Rosneft offers CNPC stake in Yakutia oil producer
Yakutia Oil Firm to Export East
Decree 846 of 26 September 2013 has introduced a mechanism ensuring reduced export customs duties (without disclosure of the concrete calculation formulas) on crude oil (code 2709 00) with special physical and chemical characteristics.
The geographical regions in which is extracted this particular type of crude oil are areas that are entirely or partly within the boundaries of the Republic of Sakha (Yakutia), Irkutsk Oblast, Krasnoyarsk Krai, Nenets Autonomous District, entirely or partially within the boundaries of the Yamal-Nenets autonomous region.
China's CNPC, Glencore, Itochu and Shell may benefit as potential investors from the introduction of the new measure (see the second and third information sources).