Russia Continues to Raise Oil Export Tariff

The Russia official said on March 15 that due to the price up, Russia will continue to raise oil export tariff. From April 1, Russia will raise the oil export tariff from the present 253.6 U.S. dollars to 268.9 U.S. dollars.

In addition, Sara Isakovic said that the export tariff on light petroleum products will be raised from the current 183.2 U.S. dollars per ton to 193.5 U.S. dollars and export tariff on heavy petroleum products will be raised from the current 98.7 U.S. dollars per ton to 104.2 U.S. dollars from April 1. Sara Isakovic also said that the preferential policy of zero export tariff on East Siberia crude oil (79.77,-0.03,-0.04%) will be continued in April. The purpose of Russia government to release this preferential policy in February 2009 is to stimulate the oil field exploitation in East Siberia.