23 Mar 2020 13:57

Oil cos must pay government 700 bln rubles under damping mechanism at oil price of $25-30/barrel

MOSCOW. March 23 (Interfax) - Oil companies must pay 700 billion rubles into the Russian budget in 2020 if the oil price remains at the level of $25-30 per barrel, Deputy Finance Minister Alexei Sazanov told reporters on Monday.

The companies have already begun making payments in the budget, he said.

"Yes, oil companies are already paying the government. Seven billion rubles in the previous month and they should pay for this month in April," he said.

"At an oil prices of around $25-$30 per barrel, they must pay us around 700 billion rubles in the year," Sazanov said.

"For oil companies? No, they must help the government," he said when oil companies would receive any kind of help.