LBCI

Russia may switch to Brent-based oil taxes – Kommersant

World

04-02-2023 | 06:01

Share

Share

Russia may switch to Brent-based oil taxes – Kommersant

Russia may switch to taxing oil producers based on Brent crude prices rather than the currently used Urals benchmark, after Western sanctions drove down the price of the latter, the Kommersant daily said on Friday, citing sources.

After the G7 grouping introduced a price ceiling on Russian oil, the gap between Urals, the traditional Russian crude benchmark, and Brent has widened to up to $40 per barrel, the paper said.

To avoid excessive damage to budget revenue from lowering oil taxes, President Vladimir Putin last month ordered the government to draft proposals on adjusting the tax framework, and switching to a Brent-based model featuring discounts and freight costs calculated monthly is the key idea so far, the daily cited anonymous sources as saying.

The move is certain to increase the tax burden on the sector and may prompt companies to start cutting output, it added.

REUTERS

Russia

Russian

Fuel

Oil

Taxes

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

Iran Air says not received any regional flight ban despite US sanctions: State media

Middle East News

2026-09-22

Iran Air says not received any regional flight ban despite US sanctions: State media

Inside the operation: How the US and Israel tracked and killed Iran’s Khamenei

News Bulletin Reports

2026-03-01

Inside the operation: How the US and Israel tracked and killed Iran’s Khamenei

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

2026-07-24

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

Elias Hoayek: The patriarch who built a global Maronite network from Lebanon to the diaspora

News Bulletin Reports

2026-07-25

Elias Hoayek: The patriarch who built a global Maronite network from Lebanon to the diaspora

Videos

Exclusive LBCI interview: UN official optimistic about UNIFIL’s future — video

News Bulletin Reports

2026-10-15

Exclusive LBCI interview: UN official optimistic about UNIFIL’s future — video

US on Hezbollah funding and Lebanon’s reconstruction: What did Tommy Pigott tell LBCI? Watch the interview

News Bulletin Reports

2026-10-09

US on Hezbollah funding and Lebanon’s reconstruction: What did Tommy Pigott tell LBCI? Watch the interview

Kaja Kallas tells LBCI about Europe’s planned mission in Lebanon — interview

News Bulletin Reports

2026-10-08

Kaja Kallas tells LBCI about Europe’s planned mission in Lebanon — interview

Heavy rain and flooding hit Lebanon’s Zahle region: Footage

2026-09-18

Heavy rain and flooding hit Lebanon’s Zahle region: Footage

Aoun arrives at Élysée Palace for meeting with Macron—Video

2026-09-17

Aoun arrives at Élysée Palace for meeting with Macron—Video

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

2026-08-06

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

2026-07-24

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

2026-07-20

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

2026-06-26

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

Most read

24 hours

7 days

Month

President Aoun offers condolences to Jordan's King Abdullah II over deadly church attack

1

President Aoun offers condolences to Jordan's King Abdullah II over deadly church attack

Patriarch al-Rahi warns of worsening living conditions, calls for tighter border controls and state monopoly on arms

2

Patriarch al-Rahi warns of worsening living conditions, calls for tighter border controls and state monopoly on arms

Israel holds major military drill as election tensions rise over security and economic fears

3

Israel holds major military drill as election tensions rise over security and economic fears

Lebanon's interior minister reaffirms solidarity with Saudi Arabia in call with counterpart

4

Lebanon's interior minister reaffirms solidarity with Saudi Arabia in call with counterpart

Brazil vote is between defending national or US flag: Lula

5

Brazil vote is between defending national or US flag: Lula

Jordan arrests three suspects in deadly church attack, state media says

6

Jordan arrests three suspects in deadly church attack, state media says

Trump campaigns in Michigan a day after Obama rallies Democrats

7

Trump campaigns in Michigan a day after Obama rallies Democrats

Police made 1,314 arrests in France's protests: Government

8

Police made 1,314 arrests in France's protests: Government

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More