The Federal Antimonopoly Service (FAS) of Russia has developed a draft government decree on the specifics of disclosure of information by natural monopolies providing services for the transportation of oil and petroleum products through trunk pipelines.
The FAS proposed to temporarily change the procedure and timing of disclosure of information by Transneft. According to the draft, data on the activities of the state-owned company are subject to withdrawal from public access, and will be provided only at the request of interested parties, taking into account confidentiality. If the document is approved, the resolution will enter into force on March 1, 2023, and will be valid until July 1, 2024.
The authors of the documents explain that such measures are necessary to limit the uncontrolled dissemination of data, which may lead to increased sanctions pressure on the fuel and energy sector of Russia. The information disclosed by Transneft can be used both to strengthen previously imposed restrictions and for new sanctions against itself and its counterparties. The strengthening of sanctions may complicate exports and the reorientation of supplies, restrict the country’s access to financial instruments and settlements with foreign partners.