Putin’s top oilman hints information about oil export should be made confidential
Igor Sechin, the head of Rosneft, Russia’s largest oil company, is making headlines with a controversial proposal. Reports suggest that Sechin and Rosneft are behind a draft decree seeking to classify Russian oil export data to keep it confidential.
The proposed decree aims to restrict public access to crucial information about Russian oil and petroleum products exports. This data includes details like product names, quantities, prices, names of sellers, buyers, and other participants. It may also involve the protection of payment and transportation information. The move is reportedly a response to what Sechin perceives as “unfriendly and internationally unlawful actions” from the United States and other foreign entities.
If the draft decree becomes official, the media will be barred from disclosing the information outlined in the document. While the document’s intentions are not entirely clear, it is speculated that the end goal is to shield export schemes from public scrutiny, especially concerning potential evasion of price restrictions established by the G7 nations.
Interestingly, a significant part of Russian oil and gas sector statistics have already been kept confidential in the past. For example, data on oil production and export stopped being publicly available in April 2022. Similar measures have been taken to protect information about hydrocarbon, gasoline, and diesel fuel production since then. These efforts, according to authorities, are intended to prevent market manipulation and safeguard Russia’s energy security.
