... surged by 13% but quickly fell back. The parties continue to exchange strikes; Donald Trump prematurely left the G7 summit over the Middle Eastern situation, summoning Security Council members to the White House to demand Iran's complete surrender. Oil prices spiked again but soon stabilized. What is preventing market players from panicking, should we expect oil prices to reach $300 per barrel, and how are these developments affecting Russia? Forbes provides insights. During the acute phase of the conflict that began on June 13,...

... budget revenues while offering oil companies a more flexible taxation system than MET. Notably, the share of AIT in taxable oil production reached 52%, as cited by Alexander Novak in an April article for the journal Energy Policy. Gas Exports Revenue ... ... by 7% over the first seven months of 2024, amounting to an absolute growth of 66 billion rubles. This was partly due to the stabilization of gas exports to Europe. According to the European Network of Transmission System Operators for Gas (ENTSOG),...

... gradually diminish. While a complete departure from the dollar remains unlikely in the short term due to its liquidity and the stability of the U.S. economy, global reliance on the dollar could weaken if more countries begin to adopt alternative arrangements ... ... example, have already made strides toward settling transactions in rubles and yuan. Comment from Sergey Tereshkin, CEO of Open Oil Market Sergey Tereshkin, CEO of Open Oil Market , shares his perspective: "Putin’s comments on the dollar and a potential ...

... Gusev, deputy chairman of the supervisory board of the association "Reliable Partner," noted that the funds collected from excise taxes go to road funds. It is not by chance that when proposals are made to cancel or reduce excise taxes to stabilize retail fuel prices, the Ministry of Finance responds that excise tax revenues are used to build new roads and maintain old ones, Gusev says. Sergey Tereshkin, CEO of the oil products and raw materials marketplace OPEN OIL MARKET, notes that excise taxes are an important source of income for regional budgets: 74.9% of the excise tax revenue on gasoline and diesel goes to Russian regions. In fact, the current indexing of ...

... previous ban, set on March 1, 2024, lasted only two and a half months, from March 1 to May 17. The purpose of the ban is to create an additional incentive to control prices, explains the expert. When prices stabilize, the regulator lifts the ban. A partial stabilization was observed between summer and fall; during the 10 weeks from May 21 to July 29, 2024, gasoline prices rose by a total of 3.8%, while in the following 14 weeks, the increase was only 2.6%. If the regulator delays lifting the ban, oil companies lose incentives to keep prices down. There’s little reason to forgo revenue if exports remain prohibited. Therefore, the Ministry of Energy and the Federal Antimonopoly Service will likely accommodate oil companies, believes Tereshkin....