Russia to bring product export duty closer to crude oil

摘要

Moscow-Russia is considering an increase in its export duty for oil products to a level equal to 85%-90% of the duty for crude oil, possibly starting from 2011, in a move aimed at making crude and product exports equally profitable. “The guidance is 85-90% of the export duty on crude oil,” the country’s deputy finance minister, Sergei Shatalov, was quoted as saying October 19 by Russia’s Prime-Tass news agency. At the same time, he said the figures were preliminary and the ministry had yet to calculate them more thoroughly.