Urals for ours.
Edited by Rhod Mackenzie / 2016-06-02 06:47:04
The law does not allow futures trading for foreigners.
The government approved a plan to launch futures trading on Russian oil Urals, their start is scheduled for November 1. If successful the government can use futures quotes to calculate the taxes and export duties for oil. But now the main problem is a delay in amending the legislation that will allow non-residents of the Russian Federation to participate in the tender. The State Duma will approve amendments only in Q4, that is, the first futures trading may pass without major foreign traders, whose participation is a key to creating a benchmark on Urals.
