Amendments concerning the Sea of​ Japan may be made into law on the Russian shelf

The Ministry of Energy intends to make amendments to the current law on the tax and customs benefits during hydrocarbon production on continental shelf, the Business-Tass reports, referring to a source in the Ministry.

According to it, it is a question of  the“inclusion of the Sea of​ Japan in one of difficulty categories”. “It hasn’t been determined, in which category the shelf of the Sea of Japan will be included,” – the interlocutor said.

As it was reported earlier, on September 30th,the Russian President, Vladimir Putin signed the law “On the shelf”. The document determines the measures of tax and customs tariff incentive of companies, which implement investment projects on hydrocarbons production at offshore fields in subsurface areas, located wholly within the boundaries of Russian internal waters and territorial sea on the Russian continental shelf or in the Russian part of the Caspian Sea.