Lukoil requests the Russian government to modify the price stabilization mechanism to reduce the tax burden, in the context of US sanctions and the discount on Russian oil.

Lukoil has sent a letter to the cabinet and the Ministry of Energy, requesting a modification of the price stabilization mechanism introduced in 2018, to reduce the tax burden and ensure payments from the federal budget. This mechanism compensates oil companies when fuel prices are below the international reference level, but imposes additional payments when they exceed this level. Lukoil proposes capping the discount applied to Russian oil at 10-15 dollars per barrel, considering that the current discount exceeds 20 dollars, which could lead to payments of approximately 13 billion rubles (170 million dollars) to the budget. Additionally, the Central Bank of Russia reported an expansion of the discount on Russian Urals oil, which reached 23% in November, affecting export revenues, essential for the federal budget. Alexei Zabotkin, the deputy governor of the Bank of Russia, believes that this situation is temporary and that Russian exporters have adapted to the new market conditions.