Russia to Raise Standard of Export Tariff on Petroleum

Some officials from Russia's Ministry of Finance indicated on April 12, 2010, that the levy standard of export tariff on petroleum would be raised in May to between USD 281 per ton and USD 284 per ton, approximately up 5.6 percent, according to Russia's calculation formula for export tariff on petroleum.

Since closely linked with the petroleum's price, as of May 1, 2010, Russia's export tariff on petroleum shall be ranged from USD 281 to USD 284 per ton according to relevant formula, with export tariffs on light and heavy petroleum products up respectively to the ranges from USD 202 to USD 204 per ton and from USD 109 to USD 110 per ton.