Russia to Apply Preferential Export Tariff Policy on Petroleum from Caspian Sea

According to a foreign media, Deputy Prime Minister and Finance Minister of the Russian Federation, Alexei Kudrin, announced that Russia may start to apply preferential export tariff policy since 2011 on the petroleum originating in the northern oilfield of Caspian Sea.

As per Kudrin, he has agreed in principle to apply the preferential policy, however, the preferential policy will be a temporary policy and will apply the standards required for internal profit-making of enterprises.