Russia to Alter Oil Export Duty System in 2013
[2012-11-14 14:05:20]
According to Russian vice finance minister, Russia ministry of finance is likely to decide in 2013 spring whether to revoke or adjust Russian new export-duty system on oil and oil products.
Since October 2011, the Russian government launched the new export-duty system to raise the duties on oil exports. But, up to now, the new system fails to "make loss level with new revenue" as expected, leading to a total decrease by USD 1.6 billion in its financial budget revenue.
Source: ETCN
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