OREANDA-NEWS  The inclusion of Russia in the gray list of tax jurisdictions implies that the Russian economy has managed to circumvent some sanctions, prohibitions, without formally violating the current legislation. Inclusion in this list is fraught with additional difficulties, but not critical. About thissaid economist Mikhail Belyaev.

"White economic operations imply following all rules and regulations. Black — are in the criminal zone. The gray ones are the case when all legal laws are observed, but chains are being built to circumvent one or another direct law," the economist explained.

He admitted that Western analysts believe that Russian companies have managed to circumvent sanctions with the help of some gray schemes and chains. At the same time, there are probably no legal grounds for claims.

"It is clear that inclusion in this list may complicate the activities of our companies. But, since the gray area is extensive, it allows you to build different configurations. I think companies working in this area will find ways to circumvent possible new restrictions and use this as an excuse to raise prices for goods, if we are talking, for example, about parallel imports," Belyaev believes.

The European Union (EU) has updated the "grey list" of tax jurisdictions, including Russia, Costa Rica, the British Virgin Islands and the Marshall Islands. The relevant statement of the EU Council is posted on its website.

The release notes that the Council "regrets that these jurisdictions do not cooperate on tax issues, and calls on them to strengthen their legal framework to solve the identified problems."