A PYMNTS Company

Russia: FAS drafts law on pricing crude oil

By  |  October 9, 2012

Russia’s Federal Anti-monopoly Service (FAS) released a draft law on Monday, designed to assess the fair domestic and export market price of crude oil and oil products. The proposal would use three indicators: export netback rate based on international prices at relevant markets, the over-the-counter price, and the price on exchange floors. Anatoly Golomolzin, the authority’s deputy head said in January, that these indicators would allow a fair assessment of the market price.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    One of the biggest caveats of the draft is that it forbids companies that hold more than 25% in a regional fuel market, to buy, rent or engage in any other deals to control retail fuel networks. Should market players violate the regulations, the court may order them to spin off their wholesale and retail operations.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Platts

    Related Content: What Do We Really Know About Export Cartels and What is the Appropriate Solution?

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.