How Russia refuses foreign currency export netback
The government is trying to keep the prices of goods in Russia at a time when foreign markets are severely stormy. In 2021, when food products on varieties were temporarily frozen, the active use of various factors for this became even more suspicious. And in 2022, in the face of unprecedented sanctions pressure from the West, the volatility of exchange rates and price fluctuations in world markets, export parity (export parity; otherwise oriented exporters, when setting domestic prices, require relevance.
In recent years, the position has generally been seen as an acceptable use of the netback as a benchmark for rising commodity prices (for example, gas, which in Russia is still subject to regulated tariffs). But now the prices for exported goods in Russia are gradually untied from Europe. The main mechanisms are FAS “recommendations” and activities with regulators, linking prices to quotations on Russian commodity exchanges and the introduction of export quotas and duties that create an excess supply of commodities (commodities) in the country.