12:06 27.06.2019

Budgets lose UAH 10 bln from shadow petroleum market of Ukraine

2 min read
Budgets lose UAH 10 bln from shadow petroleum market of Ukraine

Ukrainian Oil & Gas Association estimates the loss of the national and local budgets caused by the shadow petroleum market in 2018 at UAH 10 billion, the president of the association, Nelya Pryvalova, has said during a press conference hosted by Interfax-Ukraine in June 25.

She added that the problem could be resolved by tougher control over petroleum products turnover, in particular through introduction of licensing and enhancement of penalties for illegal fuel trade and storage.

Pryvalova called on the government to stop delaying the adoption of bylaws on the introduction of licensing for storage of petroleum products, which could not only hinder putting things to order in fuel trade, but also trigger a legal collapse.

"If the bylaws are not adopted timely, we are at risk of a situation when old laws lose effect while new ones have not come into force. A legal collapse might occur," she said.

According to the association, at least 1,500 filling stations illegally work in Ukraine today and sell up to 40,000 tonnes of fuel per month. Sales of diesel fuel account for 20% and liquefied fuel – at 50% on the shadow market.

As reported, the Verkhovna Rada has postponed the term for the introduction of licensing of storage of petroleum products from July 1, 2019 for January 1, 2020, approving the respective bill No. 10359 at second reading. However, the president did not sign the document into law.

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