Russia to Raise Crude Export Duties from March

[2012-02-15 17:55:34]


According to The Moscow Times, Russia will increase the duties by 4.6% on its crude oil exports.

According to statistics released by Russian Ministry of Finance , from March 1, 2012, standard crude-oil export duties will be increased from USD 393.70 per ton in February to USD 409.10-412 per ton. The tariff on discounted crude exports (to nations bordering east Siberia and the Caspian Sea) will be increased from USD 191.20 per ton to USD 202.8-205 per ton.

The Ministry explains that the basis for the increases is the average price of Ural crude oil on international market in recent one month, which is USD 111.74-112.43 per barrel.
Source: ETCN
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