The losses of the budget of the Russian Federation from discounts on gas to Ukraine will exceed the revenues from export growth for the whole year


Moscow. 4 Oct. The Russian budget losses from discounts on gas to Ukraine in the first quarter will exceed the expected income from the growth of Russian gas exports for the whole of 2016 year on 285 million roubles.

As stated in the explanatory note to the amendments to the law “on the Federal budget for 2016,” which is available on-receipt budget for duties (which were off) when gas supplies to Ukraine in the first quarter of 2016 reach 14.58 billion rubles.

Meanwhile, the expected revenue from the growth of gas exports in 2016 may reach 14.3 billion rubles. Thus, the budget losses from discounts on gas for Ukraine will exceed the revenues from the growth of gas exports on 284,7 million.

Discount on gas for Ukraine in the first quarter was $of 17, 77 per 1 thousand cubic meters. The price of gas with the discount reached $212,23 per 1 thousand cubic meters. No discount gas price for Ukraine could reach about $230 per 1 thousand cubic meters. Russia has ceased to grant Ukraine a discount on gas from 1 April 2016.

Growth of gas export to the far abroad this year is expected to contract by 6.6% – up to 170 billion cubic meters.

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