05 May 2004 01:52
Oil export duties to go up on June 1
MOSCOW. May 5 (Interfax) - Russia will raise oil export duties to $41.6 per tonne from $35.2 per tonne on June 1,
Alexander Sakovich, the head of the Finance Ministry's revenue and customs tariff policy department, told
Interfax.
"Based on the formula, established by law, the oil duty (starting
June 1) will be $41.6 per tonne," he said, adding that if the new duty
Crude export duties are based on a two-month monitoring of Russian Urals oil prices on the European market, he said.
The average price of Russian oil in March-April was $30.53114 per barrel ($222.8773 per tonne), compared with $28.3225
per barrel in January-February, Sakovich said.
The $41.6 per tonne duty is the highest since February 2002, when
export duties began to be tied to oil prices on the international
scale being launched on August 1 was already in place the duty would go up to $55.4 per tonne.
market. The maximum duty in 2003 was $40.3 per tonne. [RU ASIA EUROPE EEU EMRG TRD CRU OIL FIN] me
[Interfax] |
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