June Dollar Rate and Urals Price Data Released for Russian Oil and Gas Tax Calculations

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The Russian Ministry of Economic Development and the Federal Tax Service have released figures used in calculating the mineral extraction tax (MET) for oil and gas condensate, the additional income tax (AIT) from hydrocarbon extraction, and the excise tax on oil raw materials for June 2026.

According to the published data, the average price of Russian Urals oil in June was $63.52 per barrel. This figure is used to determine the tax burden for oil companies.

The average official exchange rate of the US dollar to the Russian ruble, calculated by the Bank of Russia for all days of the tax period, was 73.5447 rubles. Based on these figures, the value of the Kc coefficient, used in calculating the MET, was set at 13.6720.