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Russia Cuts Crude Export Duty
The duty on crude export from Russia will go down by $23.3/ton to $156.4/ton starting from April 1, RIA Novosti reported.
The duty on crude export from Russia will go down by $23.3/ton to $156.4/ton starting from April 1, said Alexander Sakovich from Finance Ministry.
“The crude export duty will be $156.4/ton from April 1,” the official specified, explaining the duty is fixed each two months in view of the monitoring of Urals prices in Europe.
“The government does the monitoring, while Finance Ministry and Economic Development Ministry jointly make calculations. The crude price in the monitoring averaged $51.81601/bbl January to February,” Finance Ministry’s representatives said. “So, we are reaching the duty of $156.4/ton."
The crude duty was fixed at 179.7/ton February 1, Sakovich reminded.
www.kommersant.com
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