If the stress test is on the outlook until 2030, then oil popularity and job opportunities and gas should be looked at.
These stress tests are on macroeconomics and financial stability. We will consider many macro effects there. Not only the effect on companies, but also the effect on prices for our exports and on the economy as a whole.
In order to conduct it, we will use the NGFS scenario. In particular, they have a scenario called “contradictory neutrality.” It is based on the fact that countries will take measures in an uncoordinated manner, some earlier, some later, and in general, as always, when something is done in an uncoordinated manner, tougher measures are possible than in scenarios with a high level of coordination. We will proceed from it. But it is not so easy to transfer it to our reality. We need to understand how to adapt some of the assumptions to the Russian situation. After that, we will conduct stress tests, the results will probably be available at the beginning of 2022.
Rosneft CEO Igor Sechin said that TUR could cause
more damage to the economy than the sanctions imposed on Russia and its companies. Do you agree with this assessment?
Someone abroad introduces a tax on our companies
it will affect both the corporate sector and the Russian economy as a whole. This is obvious. It is also important to understand how significant the effect will be. In the Financial Stability text, image, and video creation Review this spring, we discussed a stress test that was based on the tax rate per ton of CO2 equivalent in products imported to the EU at 30 euros per ton of CO2 equivalent. The effects of such a tax on financial companies were insignificant. Now the cost of america email carbon units in the European system, to which the cost of certificates under the TUR is tied, is somewhat higher, and it is changing. It is difficult to estimate what it will be like when the regulation is introduced.