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Acting President and Prime Minister Vladimir Putin signed a government resolution introducing export restrictions on oil producing and oil refining companies in tax arrears

January 10, 2000

The Ministry of Taxation was authorised to sign contracts for the year 2000 with oil producing and oil refining companies that would commit them as of January 1to paying 100% of taxes owed to the federal budget, excluding targeted financing of federal budget spending, and as of February 1, 2000, to owing no tax arrears to the federal budget.

Under the resolution, if oil producing and oil refining companies, as of the 1st of the current month, fail to abide by the contracts (agreements) signed with the Ministry of Taxation, or if the companies have no such contracts, and they are in tax arrears to the federal budget, their access to the system of long-distance pipelines and terminals at sea ports for the export of oil outside Russia’s customs territory will be reduced by 20% for the next month.

The Ministry of Fuel and Energy was authorised to re-distribute the available amounts of oil transportation capacity, on the principles of equal accessibility and in proportion to the quantity of extracted oil, among the oil producing companies not in tax arrears to the federal budget and the oil producing companies which had signed and fulfilled the contracts (agreements) mandated by the resolution.

January 10, 2000