Russian Gov’t gives green light to imposing some port services tariffs in foreign currency
The Russian government has approved the possibility of setting rates in foreign currency for services provided in the seaport: handling and storage of liquefied natural gas (LNG) produced in the Russian Arctic at marine transshipment terminals, the government press office said.
The government at its October 22 meeting approved the draft federal law "On Amendments to Article 2 of the Federal Law “On Amendments to the Federal Law", “On Seaports in the Russian Federation and on Amendments to Certain Legislative Acts of the Russian Federation" and will submit the bill to the State Duma in due order.
The legislation currently provides that the payment for services in the seaport (including for the loading, unloading and storage of liquefied natural gas produced in the Arctic zone at sea transshipment complexes), not related to the sphere of natural monopolies, is determined in RUB on the basis of agreements.
At the same time, the companies (including foreign businesses) participating in investment projects, including those aimed at developing the production of LNG in the Arctic zone, face certain risks associated with volatility in the foreign exchange markets.
“In order to reduce these risks, the bill provides for amending Article 2 of Federal Law No. 261-FZ dated November 8, 2007, according to which the prices (tariffs, rates) for services in the seaport for loading, unloading and storage at sea transshipment facilities of LNG produced in the Arctic zone of the Russian Federation, established for the payback period of investment projects for the construction and operation of such transshipment complexes, can be accepted in foreign currency, while payments for these services are carried out in rubles,” the press release says.
The draft federal law will be submitted to the State Duma according to established procedure.
