Russian government approves oil and gas laws

MOSCOW - The Russian government has approved draft laws on oil and gas: on determining the basic price of oil to measure the amount of tax deduction for the tax on production, as well as on granting the right to export gas to users of subsoil plots in the Arctic, announces the Cabinet.A federal bill on amendments to the Tax Code of Russia was passed, developed "in order to determine the value of the base price of oil to determine the amount of tax deduction for the tax on the extraction of minerals in oil production "."Government Decision: Approve the draft federal law "On Amendments to Article 3432 of Part Two of the Tax Code of the Russian Federation" and submit it to the State Duma in the prescribed manner," the report said. The Cabinet of Ministers of the Russian Federation also approved the amendments to the federal law "On gas export". The project provides for "the granting of the exclusive right to export natural gas to users of underground land located wholly or partly north of 67 degrees N latitude, as well as the use of the gas in the bunkering of sea and river vessels carrying cargo to export."