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Russia Hikes Oil Exports Duty to $200 a Ton
The duty on crude oil exports goes up to $200.6/ton starting from June 1, 2007. Russia’s Prime Minister Mikhail Fradkov has inked the respective ruling already. Today’s duty stands at $156.4/ton.
The duty on light oils exports will surge to $147.5/ton starting from June 1, while the dark-oil product duty will be $79.4/ton. Today’s duties are $117.7/tons and $63.4/ton respectively.
The surge in export duties was initiated by the intergovernmental commission for foreign trade protection, customs and tariff policy.
The government revises duties on oil exports every two months based on the world prices. The duties go down once the decline in prices is noted on exchanges worldwide.
www.kommmersant.com
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