Russian State Duma temporarily permits foreign companies to research commodity markets for tax, duty calculations

MOSCOW. June 23 (Interfax) - The Russian State Duma passed a law on Tuesday, permitting foreign legal entities and Russian companies with foreign ownership exceeding 20% to conduct research of commodity markets until September 1, 2028, providing they use this research to calculate taxes, charges and import duties in Russia.

The law, numbered 1194992-8, was submitted to parliament in April.

From March 1, 2026, foreign companies and Russian legal entities with foreign ownership exceeding 20% were prohibited from conducting research on commodity markets.

The State Duma financial market committee said in a report that the Russian Economic Development Ministry tracked global prices for oil, petroleum products, gas and hydrocarbon feedstock each month in order to calculate export duty rates and average prices for taxation and customs tariff regulation. "In order to carry out its designated functions, the Russian Economic Development Ministry purchases the necessary information services (prices, indices and others) from an international pricing agent for raw materials and energy markets, Argus Media Limited," the report reads.

The committee wrote that amendments were necessary in order not to disrupt the calculation of duties and tax bases. The law which has been passed allows such organizers to operate until September 1, 2028 - until the end of the transition period, which Russia is using to create its own institute of national commodity market research organizers and a system of national price indicators.

The law will come into effect from the date of its official publication and will extend to legal relations arising as of March 1, 2026.